Restoration of 372a

This query is : Resolved

K.MURALIDHAR AYYANGAR (Querist)
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27 November 2013 Sections 372A of 1956 Act was restored until 186 of 2013 Act is made applicable.

But what about private limited companies? 372A is applicable only to public ltd co and to a pvt ltd co which is subsidiary of pub ltd co.

Does section 185 of Co act 2013 applicable to pvt ltd co? Is erst while sec 295 is also restored until 186 (2013 Act )is applicable applicable?

CS Adnan Shaikh

CS Adnan Shaikh (Expert)
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29 November 2013 Dear Murlidhar,

Section 185 of Companies Act, 2013 (Loan to Directors) will be applicable to private companies as well.The exemption granted to private companies in 1956 act has not been discontinued.

Regards,
Adnan Shaikh