Feedback   New User   Login      
Tax Management India. Com TMI - Tax Management India. Com
Home Acts / Rules Notifications Circulars Tariff/ ITC HSN Forms Case Laws Manuals Short Notes Articles News Highlights
Extracts
Home List
← Previous Next →

Substitution of section 185.

Rule 61 - Bills - Bill - Rule 61 - 61. For section 185 of the principal Act, the following section shall be substituted, namely:- Loans to directors, etc. '185. (1) No company shall, directly or indirectly, advan .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

relative of any such director; or (b) any firm in which any such director or relative is a partner. (2) A company may advance any loan including any loan represented by a book debt, or give any guarantee or provide any security .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

planatory statement to the notice for the relevant general meeting shall disclose the full particulars of the loans given, or guarantee given or security provided and the purpose for which the loan or guarantee or security is proposed to be utilised .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the expression "any person in whom any of the director of the company is interested" means- (a) any private company of which any such director is a director or member; (b) any body corporate at a general meeting of wh .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ger, whereof is accustomed to act in accordance with the directions or instructions of the Board, or of any director or directors, of the lending company. (3) Nothing contained in sub-sections (1) and (2) shall apply to- (a) the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r (b) a company which in the ordinary course of its business provides loans or gives guarantees or securities for the due repayment of any loan and in respect of such loans an interest is charged at a rate not less than the rate of prevail .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

a holding company in respect of any loan made to its wholly owned subsidiary company; or (d) any guarantee given or security provided by a holding company in respect of loan made by any bank or financial institution to its subsidiary compa .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

Forum
what is new what is new
  ↓     bird's eye view     ↓  


|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version