Loan to private company

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Priti (Querist)
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29 April 2014 Sir,

there are two companies (both pvt co.) in which directors are same. Can one of the company borrow loan(unsecured) from other company?? if not a loan can it take payment for 3-5 days??

looking for sooner and proper reply,
thanks

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 April 2014 it is prohibited wef 12 September 2013 under section 185 of the Companies Act 2013..

Priti

Priti (Querist)
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29 April 2014 thanks sir,

I was looking for this clause to clear the share application money(standing in books for seven yrs). Is there any other way for this???

thanks

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 April 2014 well you need to update urself with the changes brought in after notification of Companies Act 2013

Priti

Priti (Querist)
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29 April 2014 thanks sir for solving my query..

Nikhil Kaushik

Nikhil Kaushik (Expert)
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29 April 2014 you are welcome Priti.