Loans from Directors
This query is : Resolved
11 February 2009
What are the various provisions of IT Act and Companies Act which are applicable to Loans (Not Deposits) from Directors
11 February 2009
Section 295 of Companies Act governs loans from Directors.
Rgds
Neha
neha@nehasinghi.com
(www.nehasinghi.com)
Rgds
Neha
neha@nehasinghi.com
(www.nehasinghi.com)
11 February 2009
Madam
Thanks for the reply.
But I think Sec 295 relates to loans TO directors and not FROM directors.
Anyway I have a further query.
If a Public Ltd. Co, borrows from its directors then is there any limit prescribed for the interest to be paid to directors by the company.
Thanks for the reply.
But I think Sec 295 relates to loans TO directors and not FROM directors.
Anyway I have a further query.
If a Public Ltd. Co, borrows from its directors then is there any limit prescribed for the interest to be paid to directors by the company.
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