section 295 of companies act, 1956
This query is : Open
avdhesh varshney
(Expert)
24 February 2011
in a layman write-up i wud say
A company can not give, woth obtaining prior approval of the cntrl govt, any loan directly or indirectly -
- any director of company or its holding company
- any partner or relative of such director
- any firm in which such director or relative is a partner
- an pvt co. of which any such director is a director or member.
- any body corp., of which 25% or more of voting powers is controlled such director(s)
- any bdy corp. the BOD/MD/manager where of is accostomed to act in accordance with the directions or instructions of the board or of any directors of the leading compoany !
i think this is sufficient, if u like to know further u can contact me on avdhesh19@gmail.com on facebook !
don mail me .. can send me a msg on facebook
best o luck !
A company can not give, woth obtaining prior approval of the cntrl govt, any loan directly or indirectly -
- any director of company or its holding company
- any partner or relative of such director
- any firm in which such director or relative is a partner
- an pvt co. of which any such director is a director or member.
- any body corp., of which 25% or more of voting powers is controlled such director(s)
- any bdy corp. the BOD/MD/manager where of is accostomed to act in accordance with the directions or instructions of the board or of any directors of the leading compoany !
i think this is sufficient, if u like to know further u can contact me on avdhesh19@gmail.com on facebook !
don mail me .. can send me a msg on facebook
best o luck !
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