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loan from directors

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(Querist)
28 February 2008 what are the provisions regarding loan from directors under the Companies Act, 1956?
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
28 February 2008 THERE IS PROVISION REGARDING LOAN TO DIRECTORS U/S 295 AS THERE IS OUTFLOW OF MONEY FROM THE COMPANY'S FUND .
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
28 February 2008 Loan from directors of public companies should also comply with section 58A and rules made thereunder.
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