Clarification with regard to applicability of provision of Section 372A of the Companies Act, 1956. - Companies Law - 18/2013

Circular 18/2013 No. 17/202/2013-CL-V Government of India Ministry of Corporate Affairs Shastri Bhawan, 5th Floor, A Wing, Dr. Rajendra Prasad Road , New Delhi 110001 Dated: 19.11.2013 To All Registrar of Companies All Regional Director Sub: - Clarification with regard to applicability of provision of Section 372A of the Companies Act, 1956 . Sir, This Ministry has received number of representations consequent upon notifying Section 185 of the Companies Act, 2013 dealing with loans to directors which is corresponding to Section 295 of the Companies Act, 1956 . Section 186 of the Companies Act, 2013 is yet to be notified. It is clarified that Section 372A of the Companies Act, 1956 dealing with inter-corporate loans continue to remain in force till section 186 of the Companies Act, 2013 is notified. This issues with the approval of competent authority Yours faithfully, (Kamna Sharma) Assistant Director