tag:blogger.com,1999:blog-8931091619942709318.post1797023205956525420..comments2024-03-04T01:06:10.919+05:30Comments on TAXVANI: Clarification on Section 185 by MCA on loans by the Companies taxvanihttp://www.blogger.com/profile/16664523623727434371noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8931091619942709318.post-15709203094798210262013-12-04T21:00:12.099+05:302013-12-04T21:00:12.099+05:30Section 185 of Companie Act 2013
I would like to g...Section 185 of Companie Act 2013<br />I would like to get you view on the phrase "in ordinary course of business" used in Section 185(1) proviso (b). Please through light on what is correct interpretation of that phrase " in ordinary course of business.:-<br /><br />a) is that mean company engaged in business of banking/finance/investment, may make loan to its directors etc, subject to RBI interest rate, OR<br />b) is that mean any trading/manufacturing company may advance loan to directors etc in ordinary course of its business subject ot RBI interest rate. <br /><br />Please clear my confusion.<br /><br />Thanks<br />shilpeshdalal@gmail.comShilpesh Dalalhttps://www.blogger.com/profile/08358660157374769949noreply@blogger.com