loan to director
This query is : Resolved
rajender singh
(Querist)
31 March 2010
in a pvt. co. can we give a loan to director
31 March 2010
As per Sec.295 of The Companies Act, 1956.
Yes private company can give loan to Director unless it is a subsidiary of a public company.
Yes private company can give loan to Director unless it is a subsidiary of a public company.
Ankur Garg
(Expert)
31 March 2010
Agree with Expert.
As by virtue of section 295(2)(a)(1) provisions of section 295 are not applicable to a purely private company.
Regards
As by virtue of section 295(2)(a)(1) provisions of section 295 are not applicable to a purely private company.
Regards
CS Vandana Kacholia
(Expert)
31 March 2010
agree, a pvt. company can give loan to director
CA Ravi Sisodia
(Expert)
31 March 2010
Agree, sec.295 will not applicable to pvt. companies.
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