Section 185
sanjivani (ichalkaranji) (146 Points)
31 October 2018
Can pvt ltd co give loan to public co if they hav common director
3 Replies
Kanika khetan
(Sr. Associate)
(331 Points)
Replied 31 October 2018
No as there is a common director firm can't provide loan.
Nanjundaiah R
(CS- Trainee )
(236 Points)
Replied 31 October 2018
S.. By passing special resolution can give any loan
Happy Bani
(20 Points)
Replied 31 October 2018
By Passing S/R
as well as there are some condition that must be satisfied by the Pvt. Co. :-
1) No body corporate shall shareholder of such co.
2) Borrowing of Pvt. co. from:-
a) Bank
b) Financial institutions
c) any other body corporate
that does not exeed-Twice of Paidup capital, or
50 crore, (which ever is less)
3) No default in repayement of loan
4) No default in Annual return/Annual Account.
as well as there are some condition that must be satisfied by the Pvt. Co. :-
1) No body corporate shall shareholder of such co.
2) Borrowing of Pvt. co. from:-
a) Bank
b) Financial institutions
c) any other body corporate
that does not exeed-Twice of Paidup capital, or
50 crore, (which ever is less)
3) No default in repayement of loan
4) No default in Annual return/Annual Account.
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