• Filter Your Search
            
       
 
Notifications
(0)
Circulars
(0)
Orders
(0)
News
(0)
Queries
(0)
No updates found in last 7 days.
Notifications|Circulars|Orders|News|Queries


Q & A

 
1617 Views 3 Ans

There are two Companies, Company A and Company B and both Companies have three Directors. There are two common directors. Can Company A give any loan to Company B.

Fund raising

Posted By: Ravinder 9 year(s) ago

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


    Subhash Bhaskar

As per section 185 of the Companies Act, 2013, a company cannot provide any loan to its directors or to any other person in whom the director is interested. As per the explanation provided to the term "to any other person in whom the director is interested " a private company having common directors shall be regarded as a person in whom the director is interested.But this is applicable only for private companies not for public companies. However as per MCA notification dated 05/06/2015 private companies are exempt from some of the provisions of Companies Act, 2013, among them sec.185 is one. As per that notification a private company can give loans to directors subject to certain conditions. kindly refer the notification.

  • Comment
  •   Comment (0)

    s.m.a.millath

Please refer section 185/186/188 of companies Act 2013 and related Rules.

  • Comment
  •   Comment (0)

Expert    Ankit Singhi

whats is the nature of both the companies

  • Comment
  •   Comment (0)

Recently Active Member

Recently Active Member

Pramod Prabhudesai
B D Jokhakar & Co

Post Your Question
My Q&A
 


Topic

Sections

About Q&A

Q & A is a unique platform to get your answers. You can create questions by topics or sections for easy identification of your query . You get various alerts to keep you connected and can also search your query.


So keep posting and stay connected
#
Companies Act 2013/1956
Decoding the New Act
Resource Center
My Section
Information Cafe
Calculators


COPYRIGHT NOTICE: All information and material posted in this website (including but not limited to text, audio, video or graphical images), are subject to copyrights owned by Corporate Professionals eSolutions Private Limited, its affiliates and associates. Any reproduction, retransmission, republication, or other use of all or part of this document is expressly prohibited, unless prior permission has been granted by Corporate Professionals eSolutions Private Limited. All other rights reserved.

© Corporate Professionals eSolutions Pvt Ltd. | All Rights reserved
Scroll