Loan to employees
This query is : Resolved
20 November 2014
With reference to Sec 185/186 Companies Act Pvt Ltd Companies cannot lend to Directors and Interested parties.
Wanted to know what about Employees, can Pvt Ltd. or any registered company can lend loan to its Employees.
Please suggest.
Wanted to know what about Employees, can Pvt Ltd. or any registered company can lend loan to its Employees.
Please suggest.
20 November 2014
As per the Companies Act, 2013, company cannot give/take Loan from/to any director, shareholder and their relative.
If employee is covered under the definition of Relative then it is not allowed otherwise company can give loan to its employee
Employee are not covered under the definition of relative
If employee is covered under the definition of Relative then it is not allowed otherwise company can give loan to its employee
Employee are not covered under the definition of relative
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