Section 370 of the Companies Act, 2013
Section 370 of the Companies Act, 2013 — Notified Status: Not Applicable / Omitted
✅ Important Note:
Section 370 of the Companies Act, 2013 does not exist as an active or applicable provision. In fact:
Section 370 was a part of the Companies Act, 1956, titled “Loans to companies under the same management”.
However, this section was not re-enacted in the Companies Act, 2013.
Instead, its subject matter was merged into Section 186 of the Companies Act, 2013.
📌 Relevant Provision Today: Section 186 of the Companies Act, 2013
This section governs:
Loans and investments by a company,
Guarantees or security given to any other body corporate,
Limits and disclosures related to inter-corporate loans and investments,
Board and shareholder approval requirements.
📚 Summary:
Section 370 of the Companies Act, 2013: Does not exist.
Earlier existed in the 1956 Act, but now replaced by Section 186 in the 2013 Act.
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