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ceneral Circular No, 04/2015
No. 1/32l2013-CL.V
Government of India
lvlinistry of Corporate Affairs
5tn floor, 'A' wing, Shastri Bhavan
New Delhi - 110001
Dared; 10/03/2015
To
All Regional Directors,
All Registrar of Companies,
All Stakeholders.
Subiect : Cla;ification with reoard b section 1g5 and 186 ofthe Companies
Act 2013 - loans and advances to emplove€s - rcq.
Sir,
This Ministry has received a number of references seeking clarification on the
applicability of provisions of section 186 of the Companies Act, 2013 relating to grant
of loans and advances by Companies to their employees.
2. The issue has been examined and it is hereby clarified that loans and/or
advances made by the companies to thelr 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. This clarjfication will,
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,
3. This issues with the approval of the Secretary.
Yours faithfully,
,*1,&d{a{ri
Assibtant Direclor
Phone:011-23387253
Copy to :
1. PSO to Secretary
2. Ps to Js(rvl)/Js(B)/Js(A)rs(sP)/DII(Ns)/DII(P)
3. E-Gov Cell for uploading on the N4CA website
4. Guard File.

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CLARIFICATION UNDER SECTION 185 AND 186 LOANS AND ADVANCES TO EMPLOYEES

  • 1. ceneral Circular No, 04/2015 No. 1/32l2013-CL.V Government of India lvlinistry of Corporate Affairs 5tn floor, 'A' wing, Shastri Bhavan New Delhi - 110001 Dared; 10/03/2015 To All Regional Directors, All Registrar of Companies, All Stakeholders. Subiect : Cla;ification with reoard b section 1g5 and 186 ofthe Companies Act 2013 - loans and advances to emplove€s - rcq. Sir, This Ministry has received a number of references seeking clarification on the applicability of provisions of section 186 of the Companies Act, 2013 relating to grant of loans and advances by Companies to their employees. 2. The issue has been examined and it is hereby clarified that loans and/or advances made by the companies to thelr 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. This clarjfication will, 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, 3. This issues with the approval of the Secretary. Yours faithfully, ,*1,&d{a{ri Assibtant Direclor Phone:011-23387253 Copy to : 1. PSO to Secretary 2. Ps to Js(rvl)/Js(B)/Js(A)rs(sP)/DII(Ns)/DII(P) 3. E-Gov Cell for uploading on the N4CA website 4. Guard File.