27:50 Sir, if 185 already restrict to subsidiary Company from taking loan then Subsidiary Co. has to comply 185(2) for taking loan and also need to have common directorship or such director is a Shareholder in that Subsidiary if wants to take loan BUT you mentiond that Common directorship not allowed
Sir what about loans given by companies to other companies before commencement of companies act 2013. is it necessary to charge interest thereon. Please clarify
Sir i have one doubt Sir can one group company can provide loan to its another group company (same directors in both) xyz ltd is common shareholder is both company holding 93% in each group company company can give loan in this case? is there any tenure? plz response me🙏🙏🙏
1 A pvt Ltd holds in its name FDR which has been pledged to bank for providing overdraft facility to B pvt Ltd. Amount within 60 % till Dec 22 2.There is a common director between A pvt Ltd and B pvt Ltd 3. In Jan 2023 limit of 60 % crossed. 4.Is BR sufficient or MGT 14 required to be filed for such facility
Sir, now a days i seen that so much pvt ltd incorporated like BHUMI MICRO FINANCE PRIVATE LIMITED (not sec-8 & not nbfc) for finance business, how they can do finance business without rbi approval only as registration as finance division code 65?
Sir 2 pvt LTD company Both company directors are common ,both company have inter raleted sale purchase goods transaction One company give advance to another company So questions is that this advance amount is consider sec 185 applicability ???
@11:37 Exactly came for this, Thank you Divesh sir. Please help me on this, Sec 185 says to pass special resolution and Sec 186 says Special resolution (only in case limit exceeded), so which one to follow when there is a clash between both sections. For Ex: Company wants to give loan(not exceeding limit under sec 186) to its Associate Company(30% stake) where one of the director's relative is a director of associate company and holds 30% voting rights?
Both are separate Sections and separate resolutions. If you need to pass SR in 185 then pass and don't mention 186. If you need to pass in both sections then pass two SR.
Sir, section 185 will be applicable on this - a pvt co. making overseas direct invt in associated foreign joint venture, can it be done and if yes by passing special resolution only ? pls guide
If company A has passed resolution under section 185 for 1cr to give loan company B in FY 20-21 but company has only utilized 40lac in FY 20-21. Can company B utilized remaining 60lacs in next FY I.e., FY 21-22? Or fresh resolution is required to pass for next FY?
If Pvt. Ltd. give ICD to other Pvt. Ltd. covered under related parties will be covered under Deemed Dividend u/s 2(22)(e). Please give answers for both case I.e. interst charged at market rate and if interest free icd given
Sir are separate special resolutions required to be passed for sec 185 and sec 186 or one resolution for sec 186 will work if limit exceeds 60% in case of corporate guarantee
Thankyou for maming these types of videos🙏
Very nice explained
thank you
27:50 Sir, if 185 already restrict to subsidiary Company from taking loan then Subsidiary Co. has to comply 185(2) for taking loan and also need to have common directorship or such director is a Shareholder in that Subsidiary if wants to take loan BUT you mentiond that Common directorship not allowed
185(2) u can use even in common directorship.
5. The first trigger point of passing SR is the date of first transaction or the date when transaction crosses 60 % limit
Very Good Diveshbhai. Thanks !
Private Ltd covered under exemption and no sec 185 of CA, 13 applicable on companies.
Now any limit on loan to directors ?
Pl. Share yr articles
Sir what about loans given by companies to other companies before commencement of companies act 2013. is it necessary to charge interest thereon. Please clarify
Yes. It is necessary to charge interest on the same.
Sir i have one doubt Sir can one group company can provide loan to its another group company (same directors in both) xyz ltd is common shareholder is both company holding 93% in each group company
company can give loan in this case? is there any tenure?
plz response me🙏🙏🙏
1 A pvt Ltd holds in its name FDR which has been pledged to bank for providing overdraft facility to B pvt Ltd. Amount within 60 % till Dec 22
2.There is a common director between A pvt Ltd and B pvt Ltd
3. In Jan 2023 limit of 60 % crossed.
4.Is BR sufficient or MGT 14 required to be filed for such facility
In case of private company one company gave loan to another private company where there is common director whether we need to file SR?
Sir please take sec 188 and lodr regulation 23 as a Harmonious construction of interpretation for an listed company with ind as 24, if possible sir
I will definitely try.
@@fcsdiveshgoyal564 thank you so much sir🙏
@@fcsdiveshgoyal564 Sir, i also want a workshop on section 188 read together with Ind as 24.
@@abhishekaggarwal5097 Ok soon will plan on this.
Can company give ICD (Inter corporate Deposit) to registered trust under section 186 of the Act
Sir, now a days i seen that so much pvt ltd incorporated like BHUMI MICRO FINANCE PRIVATE LIMITED (not sec-8 & not nbfc) for finance business, how they can do finance business without rbi approval only as registration as finance division code 65?
drop me messag to discuss the same.
Can a holding company give interest free loan to its wholly owned subsidiary
Nice Session Sir
thank you so much.
Sir
2 pvt LTD company
Both company directors are common ,both company have inter raleted sale purchase goods transaction
One company give advance to another company
So questions is that this advance amount is consider sec 185 applicability ???
Yes, book debts also cover under Section 185.
Sir
This advance money for future sale purchase of inter related goods and services.
So this case book debts also consider sec 185 applicability....?
@@balwansingh1601 then you can take it.
can a company give guarantee and security in relation to a loan taken by partnership firm in which such directors of the company are partners???
no, cant give.
@11:37 Exactly came for this, Thank you Divesh sir. Please help me on this, Sec 185 says to pass special resolution and Sec 186 says Special resolution (only in case limit exceeded), so which one to follow when there is a clash between both sections. For Ex: Company wants to give loan(not exceeding limit under sec 186) to its Associate Company(30% stake) where one of the director's relative is a director of associate company and holds 30% voting rights?
Both are separate Sections and separate resolutions. If you need to pass SR in 185 then pass and don't mention 186. If you need to pass in both sections then pass two SR.
@@fcsdiveshgoyal564 Thanks for your reply sir
Sir please make a video on how to start a Company secretary practice
sure. i will plan something on this.
Sir, section 185 will be applicable on this - a pvt co. making overseas direct invt in associated foreign joint venture, can it be done and if yes by passing special resolution only ? pls guide
yes pass SR and comply 185(2) for this transaction.
@@fcsdiveshgoyal564 thank you so much sir
If company A has passed resolution under section 185 for 1cr to give loan company B in FY 20-21 but company has only utilized 40lac in FY 20-21.
Can company B utilized remaining 60lacs in next FY I.e., FY 21-22? Or fresh resolution is required to pass for next FY?
1. If resolution mentioned for 20-21 then you need to pass new resolution.
2. out of 10 Lakh how they can use 40 lakh
@@fcsdiveshgoyal564 I mean to say 1cr. Apologies for typo error
Can Pvt Ltd Co give loan to Public Co. in which director are interested without passing special resolution ?
If Pvt. Ltd. give ICD to other Pvt. Ltd. covered under related parties will be covered under Deemed Dividend u/s 2(22)(e). Please give answers for both case I.e. interst charged at market rate and if interest free icd given
Interest shall be charge as per RBI Rates.
Deemed dividend depend upon the common directors.
Sir are separate special resolutions required to be passed for sec 185 and sec 186 or one resolution for sec 186 will work if limit exceeds 60% in case of corporate guarantee
Separate resolution u/s 185(2) and 186 should be pass.
could you please provide the pdf of this..
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