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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.
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Ankur Garg

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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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