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Some relaxation has been given to Private Cos (vide Notification dated 05-06-2015) for Sec-185 (Loan to Directors). Please let me know whether the criteria of relaxation should be judged from the point of view of the company giving loan or receiving proposed loan or both?

Implementation of new law

Posted By: Debabrata 8 year(s) ago

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SANKET

According to me criteria of relaxation should be judged from the point of view of Private company giving loan to directors as title of section 185 is Loan TO directors. Private Company can receive (borrow) money from director by complying with the provisions of section 179/180.

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