Section 185 of the companies act 2013 - clarification
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 January 2015
Directors of company A are neither directors nor Members in Company B. However one member holds 46% shares in company A and 99% in company B and He also a Director in Company B. Whether Company A can offer corporate Guarantee as per section 185 of the companies act 2013
02 January 2015
I don't see any consequences in that.
Please wait for other expert views.
Regards
CA Ayush Agrawal
Please wait for other expert views.
Regards
CA Ayush Agrawal
16 January 2015
if the person with common holding in both company A and B is also a director in the company A and B then there is a contravention of section 185 which may lead to a penalty not less then5 lacs but which may extend to 25 lacs... Otherwise not...the Point to notice here is Director and not the memeber
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
