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    Inter-corporate loan under section 186 of the Companies Act 2013 ?

    Posted By : SHALU / Published on : 02-Aug-2022 07:31 AM / View : 93 / Comment : 0

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    The company abc is giving intercorporate loan to another company xyz in excess of the limits stated in the section 186 of the companies act 2013.

    We need to conduct BM to set a threshold limit and thereafter conduct EGM. Approving the limit in excess of limit specified in section 186 with the consent of members.both the Company has same directors.

    1. Now my concern is the ceiling limit of loan is 50 lacs and loan given to company is 20 lacs. Do we need to mention both the amount in mgt 14. Or only the ceiling limit need to be mentioned in Form.

    1. Is board resolution sufficient for the loan given to the company amounting 20 lac. Do we need to mention about the loan portions every time we grant loan to the company within the limit I.e. 50 lac.

    2. Do we need to file mgt 14 everytime for providing loan within the limit of rs. 50 lac. Or if one time approval from shareholders are sufficient?

    3. Board resolution is needed for providing loan and interest rate in parts till the ceiling limit is attained while granting loan

    Please clear:-
    Read more on : companies section under corporate loan inter

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