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Loan to director

This query is : Resolved 
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(Querist)
23 August 2014 Whether Private Company can give loan to its Directors?
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Nischit Sanghavi

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Nischit Sanghavi (Expert)
23 August 2014 Section 185:- The section provides that no company shall directly or indirectly advance any loan to its director or to any other person in whom the director is interested or give any guarantee or provide security in connection with the loan taken by the director or any such other person. The term “any other person in whom the director is interested” includes firm in which director or his relative is partner and private companies in which the director may be director or shareholder.
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