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Loan to associate concerns

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21 November 2015 whether amt given to associate concern/related party and consequently repaid during the financial year is a contravention of section 185 of companies act 2013?

23 November 2015 Yes..it is contravention of 185. 185 clearly restricts the company to give amount to Director or its related party.

23 November 2015 BUT THE LOAN STAND NIL AS ON 31.3.15


23 November 2015 So what!?? The Companies Act, 2013 ask a Company not to give money to Directors and their relatives and still company gave it. It is clearly a non-compliance.



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