Clarification regarding section 185
This query is : Resolved
01 March 2014
Dear Members / Experts,
Can a Pvt. Company give loan to an AOP in which its director is partner and to joint ventures. whether it will be covered under section 185 of Companies Act, 2013?
Can a Pvt. Company give loan to an AOP in which its director is partner and to joint ventures. whether it will be covered under section 185 of Companies Act, 2013?
05 March 2014
Yes, the loan would be covered in section 185 of the Companies Act, 2013, which has come into force with effect from 12th September, 2013 and therefore, even a private limited company cannot give loan to AOP in which its directors is partner.
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