Loan to pvt co,
This query is : Resolved
15 June 2015
DEAR SIR/MADAM
THERE IS TWO PRIVATE CO. HAVING THREE COMMON DIRECTOR.FIRST PRIVATE CO. IS GIVEN LOAN TO SECOND PRIVATE CO. WHICH IS IN CONTRADICTION OF SEC-185.
SO I WANT TO KNOW WHETHER THERE IS WAYOUT OF SEC-185.
THERE IS TWO PRIVATE CO. HAVING THREE COMMON DIRECTOR.FIRST PRIVATE CO. IS GIVEN LOAN TO SECOND PRIVATE CO. WHICH IS IN CONTRADICTION OF SEC-185.
SO I WANT TO KNOW WHETHER THERE IS WAYOUT OF SEC-185.
17 June 2015
After June 05, 2015 Section 185 does not apply to Private Company if Private Company Complies with certain conditions
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