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    Applicability of Section 186 to the employees of company

    Posted By : Juhee Goyal / Published on : 01-Aug-2022 05:13 AM / View : 218 / Comment : 1

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    Hi Everyone!

    Are the provisions of section 186 applicable to the employees of
    the company ?
    Read more on : company employees section applicability

    • Dear Juhee,

      MCA vide its General Circular No. 04/2015 dated 10th March, 2015, has clarified that loans and/or advances made by the companies to their employees, other than the managing or whole-time directors (which is governed by section 185) are not governed by the requirements of section 186 of the Companies Act, 2013. Such clarification shall, however, be applicable if such loans/advances to employees are in accordance with the conditions of service applicable to employees and are also in accordance with the remuneration policy, in cases where such policy is required to be formulated.

      02-08-2022 / 05:43:54 AM
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