PLEASE SUGGEST ME AS SOON AS POSSIBLE
1.Whether Section 177 of companies act 2013 is applicable on ifsc public companies?
2. Section 180 is applicable when co give loan to it's director or any other person related to director
For explaination of any other person related to director many points are given few points are:-
(1) relative of "such director", or
(2) partner of "such director"
HERE SUCH DIRECTOR MEANS ONLY LENDING COMPANY DIRECTOR OR DIRECTOR OF HOLDING COMPANY OF LENDING COMPANY IS ALSO INCLUDE?
3. THERE ARE SOME EXEMPTIONS GIVEN ON SATISFY ON GIVEN CONDITIONS SECTION 185 IS NOT ATTRACTED
IN THIS CLAUSE C IS THAT :-
IF A HOLDING CO GIVE LOAN TO ITS WHOLLY OWNED SUBSIDIARY COMPANY, OR
IF HOLDING CO IS GIVING GUARANTEE OR PROVIDING SECURITY IN RESPECT OF LOAN TAKEN BY ITS WHOLLY OWNED SUBSIDIARY CO PROVIDED FOR BOTH OF ABOVE CONDITIONS
THE LOAN TAKEN SHOULD BE USED BY SUBSIDIARY FOR ITS PRINCIPAL BUSINESS ACTIVITY
THE CLAUSE C HAS BEEN SUBSTITUTED FOR
IFSC PUBLIC AND PRIVATE COMPANIES WITH NEW POINT
PLEASE SEND ME THE COMPLETE EXPLAINATION OF THAT POINT WITH ANY EXAMPLE ?
