Payment on behalf of Firm by Pvt Ltd Co. where Directors are interested
This query is : Resolved
Jacob Abraham
(Querist)
17 September 2022
We are a firm in trading business with similar business of of the private limited company, where the partners /directors are same and / or relatives of directors. Company paid to firms' supplier on their behalf to clear their dues. Is it permissable ? If any section of Company law attracted on this transactions. Payment made via bank transfer.
With thanks
With thanks
CA R SEETHARAMAN
(Expert)
17 September 2022
Payment made via bank transfer is allowed.
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