Sec.186

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Chartered Accountant
8487 Points Joined August 2010
If a company makes default in repayment of public deposits or interest but rectifies it, is it still restricted u/s186 to make loans/ guarantee/ security/ acquisition transactions ?
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On 17 September 2015 at 10:59 Report
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Chartered Accountant
47 Points Joined July 2008
Restriction u/s.186(8) is only till the time the default continues. Hence once default is made good then there seems to be no restrictions.
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On 17 September 2015 at 16:25
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Chartered Accountant
8487 Points Joined August 2010
Thanks for the reply.
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On 17 September 2015 at 20:23


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