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A Private Limited Company is taking Loan from Bank and its other 2 Associate Company gives guarantee for that Loan, and directors are common in all 3 Companies. Is Section-185 is applicable to it?

Fund raising

Posted By: Anupma khanna 8 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

Yes unless the Associates company giving guarantee are not private companies and are not exempted from the provisions of section 185

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    siddhesh

yes 185 will trigger because your company not falling under section 185(1) (d)

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