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Sec 185 of cos act 2013

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(Querist)
13 April 2015 whether loan can be given to the such private company where relative of the lending company is director?????????
Relative for the purpose of this section includes cousin brother also??????
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
13 April 2015 Granting loan to a Private company where relative of the lending company is director is not prohibited by Section 185 provided the director does not hold any share in the borrowing company also.
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