Sec185 of com act 13

ashana (student) (39 Points)

06 October 2014  
Sec 185 of com act 13 say that advance any loan including any loan represented by a book debt to a specified person treated as loan to director ....... Qes - A com offer flat to MD who pay 50% amount immediately & contract to pay balance amount in installmemt .Does this amount to loan to director as per sec 185 of com act 13?