Loan limit to Director of company


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Querist : Anonymous

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Querist : Anonymous (Querist)
28 June 2010 Dear Experts

Can u tell me how much limit of loan, if loan provide to director of company.

Ankur Garg (Expert)
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

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2010 Thanks for your valuable reply


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