Dear Sir, U/s 185 of Co.Act 13, The wording used is-- Loan Represented by Book debts... Query- If a company engaged in business of Selling AC , sells AC to a director or his relative at ARM'S LENGTH price. Whether it constitute loan to director ?? 2) Whether selling of AC to director or his relative at a price below the Market price will constitute loan to director ?? Pls clarify

Dear Sir,In my last query- you replied that when GM is required when GM required, Board can only recomment. Earlier query-- For every Related Party Transaction u/s 188 of Co Act,13 , BOD Resolution should be passed in the Board Meeting. Query- If the threshold mentioned for a Transaction u/s 188 is crossed, then OR in GM is required. This means that both BOD Resolution + GM-OR is required in that case ?? Sir, Pls tell the meaning of -- "Board can only recomment."

Dear Sir, For every Related Party Transaction u/s 188 of Co Act,13 , BOD Resolution should be passed in the Board Meeting. Query- If the threshold mentioned for a Transaction u/s 188 is crossed, then OR in GM is required. This means that both BOD Resolution + GM-OR is required in that case ?? 2) Joint holding of share by directors along with his relatives in a company > 2% paid up share capital will be covered u/s 184(2) of Co.Act ,13 ?? 3) Whether disclosure required u/s 184(1) in above cas

Dear Sir, In a company there are 8 Directors. Out of which ONLY 6 DIRECTORS ARE PRESENT IN THE BOARD MEETING. The Rest 2 directors are on leave. Query- As per Sec 186(5) of Companies Act 2013, If 6 Directors gives unanimous consent for giving Loan to a company, THEN WHETHER IT WILL be COMPLIANCE OF 186(5) ?? 2) If a company subsequently makes repayment of Public deposits/Interest thereon, then it can give Loan/Guarantee as per Sec 186(8). AM i right ?

Dear Sir, Can a corporate debtor which is already undergoing CIRP file CIRP against another Corporate for recovery of dues. I understand section 11(a) prohibits the Corporate debtor to initiate CIRP against itself- but it can file on others (i rely on section 17, Section 18(1)(d), section 20(1), section 25(2)(d) of IBC.) kindly advise

Dear Sir,An auditor can serve a period of Maximum 2 terms of 5 years EACH. Now, if an Auditor, M/S XYZ, is appointed for 1 term only i.e 5 yrs, then after completion of 5 yrs , HE WILL NOT BE ELIGIBLE TO BE RE- APPOINTED AS AUDITOR IN THE company FOR A PERIOD OF 5 YRS. i.e. After completing 5 yrs period , he will go into cooling period of 5 yrs. Am i right sir ?? 2) Can the auditor be appointed directly for 2 terms of 5 yrs each ?? Thanks sir..

Dear Sir, In applicability of Audit committee in the following clause — the Public Companies which have, in aggregate, outstanding loans, debentures and deposits, exceeding fifty crore rupees. Query- Here, Outstanding loans will include CC/ OD Also ?? 2) Outstanding Loan will be either short – term OR Long Term. And This loan will be from either Banks/ Public Financial Institution OR Any other Person. Am i right sir ?

Can a financial creditor who filed joint petition under IBC withdraw at a later stage

Facts: 01.Resolution Applicant is the Promoter of the CD it self being an MSME 02.Reso Plan results in haircut for FC which the FC approves 03.Having accepted the haircut as part of Reso Plan and having allowed the CD to survive can the FC claim the haircut amount from the Guarantors after having settled with the primary borrower ie CD? 04 Even if the Reso Plan is of any other Reso Applicant having agreed to a Reso Plan for revival of CD how can Bank claim money from Guarantors ?

IBC - Can a Company survive under liquidation process post rejection of all Resolution plans? Can buyer (under liquidation) buy the company with its business (going concern)? Can a company by using compromise-arrangement u/s 230 under Companies Act can still survive at the liquidation stage, for a buyer to buy it with its CIN, PAN etc.?

In case a Resolution Plan is passed by CoC and approved by AA which results into a haircut for Fin Creditor, Will Fin Creditor still have a claim for the balance amount on the Guarantors ?

Dear Sir, As per Explanation 2 of clause -- 'a' of Rule 6 of Companies Audit and Auditors Rules 2014, states that-- break in the term for a continuous period of five years shall be considered as fulfilling the requirement of rotation. Pls clarify the implication of this line sir. Thanks..

Dear Sir, If a company appoints M/s XYZ as Statutory auditor.And after 2 yrs, the auditor resigns. In his place,another auditor joins. He also worked for 3 years and left. Now again the company wants to appoint M/s XYZ as auditor. Whether it is possible ?? 2) If yes, then whether M/s XYZ can be appointed for 8 yrs because 3 years (5-2)from earlier appointment and 5 yrs of current appointment ??

Dear Sir, As per Sec 185 of Companies Amendment ACt ,2017 , A Company is FREE To give loan to its Subsidiary company because it is nowhere prohibited under the section . Do you agree sir ?? 2) Sir, if a company wants to give loans WITHIN THE LIMITS of Sec 186 (2), then also , Unanimous Consent of ALL THE DIRECTORS IS REQUIRED IS BOD MEETING as per Sec 186(5) ?? 3) In Sec 185(4)(i), The word "Company" means Borrowing Company also ?? Thanks sir..

Sir, There are several allottees of flats to be constructed under scheme. Finally the construction got delayed beyond time and hence Flat allottees asked for refund and developer/ owner agreed for refund. But the cheque for refund bounced. querry: 1. can more than one allottee apply as financial creditor in one form 1? 2. if year- then should narratives of different allottees be mentioned one by one or as a group? 3. if no- then would there be not large number of applications in each c