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Loan given by a company

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 June 2013 Our company had given a business loan of 300000/- to one of the relative of director and already received an post dated cheque of interest amount.
My question is that can company is authorized to do this act as nothing is provided in articles and MOA.?
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CA Kapil Verma

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CA Kapil Verma (Expert)
04 June 2013 the company can give loan but keep in mind provision of Deemed Dividend.
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Querist : Anonymous

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Querist : Anonymous (Querist)
04 June 2013 Sir here company had given a loan to third party. Than what should we consider.?




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