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Jul 30, 2021 · There are four subsections of section 185 of the companies act 2013. Section 185 (1) :- No company shall, directly or indirectly, advance any loan, including any loan represented by a book debt to, or give any guarantee or provide any security in connection with any loan taken by,—
5 days ago · 185. Loans to directors, etc. (1) No company shall, directly or indirectly, advance any loan, including any loan represented by a book debt to, or give any guarantee or provide any security in connection with any loan taken by,—.
THE COMPANIES ACT, 2013 _____ ARRANGEMENT OF SECTIONS Last update-29-7-2022 _____ CHAPTER I PRELIMINARY SECTIONS 1. Short title, extent, commencement and application. 2. Definitions. CHAPTER II INCORPORATION OF COMPANY AND MATTERS INCIDENTAL THERETO 3. Formation of company. 3A. Members severally liable in certain cases. 4. Memorandum. 5.
Jul 24, 2023 · Section 185 of Companies Act, 2013 talks about Loan to Directors, their relatives, entities in which such Directors are interested and also Loan to Subsidiaries of the lending company. This section covers both Prohibitions and restrictions to give loans to the above-mentioned parties.
Section 185 of the Act provides the conditions and restrictions of granting loans to the directors. Every company must follow the conditions laid down in this Section before granting loans or giving guarantee or security in connection with any loan.
Jul 3, 2014 · Analysis of section 185 of companies act 2013. a) section 185 of companies act 2013 applies to both private and public companies, b) No company can directly or “indirectly” advance loan to its “directors” or to “other persons in whom directors are interested”
SECTION 185. LOAN TO DIRECTORS, ETC. [ Effective from 12th September, 2013] [1] [185. (1) No company shall, directly or indirectly, advance any loan, including any loan represented by a book debt to, or give any guarantee or provide any security in connection with any loan taken by,—.
Explanation.— For the purposes of this section, the expression “to any other person in whom director is interested”‖means— (a) any director of the lending company, or of a company which is its holding company or any partner or relative of any such director; (b) any firm in which any such director or relative is a partner;
Aug 24, 2022 · Section 185 of the Companies Act, 2013 imposes specific limitations on the issuing of loans to Directors in order to monitor their performance. Prior to the Amendment.
Dec 20, 2023 · In this article, the author provides a comprehensive analysis of Section 185 of the Companies Act, 2013, along with the recent amendments made to the Act pertaining to the aforesaid section. Additionally, it also discusses the exceptions to this provision and the punishments provided in the 2013 Act in the event of non-compliance.
