Sec.292,299,300of company act

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Naresh Kumar (Querist)
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24 February 2012 if a private company give loan to a firm(in firm the director of the private co. is a partner) whether section 292,299,300 & any other section is applicable and if applicable then whether resolution under board meeting should be passed or not and if passed then whether form 23 is also sent to mca through online

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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27 February 2012 You have to comply with the provisions of Section 295 apart from section 292, 299 & 300.

Apart from passing Board Resolution, Central Govt approval is required.

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