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Loan from Directors

This query is : Resolved 

Hi Everyone

Can u please clarify whether Interest Free Loan from Directors exceeding the total of Paid up capital and free reserves of a company requires special resolution u/s 293(1)(d). As some loans are outside the preview of this section, whether this is covered or this is also not covered.

Thanks


ineterst free loand can be given only during the year.

yes, in preview of sec. 293. ordinary Resoluation required.


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