Loan limit to Director of company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2010
Dear Experts
Can u tell me how much limit of loan, if loan provide to director of company.
Can u tell me how much limit of loan, if loan provide to director of company.
28 June 2010
There is no limit specified in law. Loan to director of a private co. is exempt from section 295.
But a public company can provide loan to its director only after obtaining previous CG approval u/s 295.
Read section 295.
Regards
But a public company can provide loan to its director only after obtaining previous CG approval u/s 295.
Read section 295.
Regards
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Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2010
Thanks for your valuable reply
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