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Amendment of section 186

Section 62 - Acts - Companies (Amendment) Act, 2017 - Section 62 - 62. In section 186 of the principal Act,- (i) in sub-section (2), the following Explanation shall be inserted, namely:- 'Explanation.-For the purposes of this sub-section, the wor .....

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e, the amount for which guarantee or security so far provided to or in all other bodies corporate along with the investment, loan, guarantee or security proposed to be made or given by the Board, exceed the limits specified under sub-section (2), no .....

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provided by a company to its wholly owned subsidiary company or a joint venture company, or acquisition is made by a holding company, by way of subscription, purchase or otherwise of, the securities of its wholly owned subsidiary company, the requir .....

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the following sub-section shall be substituted, namely:- "(11) Nothing contained in this section, except sub-section (1), shall apply- (a) to any loan made, any guarantee given or any security provided or any investment made by a banking company .....

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b) to any investment- (i) made by an investment company; (ii) made in shares allotted in pursuance of clause (a) of sub-section (1) of section 62 or in shares allotted in pursuance of rights issues made by a body corporate; (iii) made, in respect of .....

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