valid as on 20/10/2026

12.1.10-Companies (Meetings of Board and its Powers) Rules,2014

10. Loans to Director etc. under section 185.- Rule 10 omitted vide Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015. To view the Notification,Click Here

(1) Any loan made by a holding company to its wholly owned subsidiary company or any guarantee given or security provided by a holding company in respect of any loan made to its wholly owned subsidiary company is exempted from the requirements under this section; and

(2) Any guarantee given or security provided by a holding company in respect of loan made by any bank or financial institution to its subsidiary company is exempted from the requirements under this section:

Provided that such loans made under sub-rule(1) and (2) are utilised by the subsidiary company for its principle business activities.

Companies (Meetings of Board and its Powers) Second Amendment Rules, 2015 [G.S.R. 971 (E)] dated 14/12/2015

Open or download this PDF