Company law

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Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2012 Can anyone tell me, if the Company (Listed Co.)want to purchase the property and director of that company will pay the EMI (Rs. 3.5 crore) for purchase of that property, corporate guarantee is in the name of Company. does it violate the provisions of the Companies Act 1956? if yes, which section? does it attract the section 293 (1) (d) of the co. act 1956?
paid up capital of the company is 10.78Crore.
plz reply? waiting for kind reply

Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2012 waiting for kind reply from professionals, it will really help me to resolve my query

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