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Loan to employees

This query is : Resolved 
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(Querist)
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.
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CA Harish Shyam Choudhary

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CA Harish Shyam Choudhary (Expert)
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
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