Guarantee to the laon taken by the Director

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2011 A private ltd company provides guarantee for the loan taken by the director. Which section apply for this and what are all compliances to be complied in this regard?

Guest

Guest (Expert)

07 July 2011 Section 295 deals with Loan to director (directly or indirectly). But the same is not applicable to ur company being Private Limited.

However Section 297 and 299 is applicable, because of Interest in contract.

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Guarantee to the laon taken by the Director

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