Loan by pvt company
This query is : Resolved
vivek somani
(Querist)
13 March 2014
can a pvt ltd company give loan to sole prop firm of its director??
19 March 2014
Section 185 of the Companies Act, 2013 PROHIBITS loans to a director or any other person in whom the director is interested.
This section is applicable to ALL companies including private companies.
So private company CANNOT give loan to sole proprietor firm of its director.
This section is applicable to ALL companies including private companies.
So private company CANNOT give loan to sole proprietor firm of its director.
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