Section 295 of the Companies Act, 1956
This query is : Resolved
23 September 2009
If a Public Company grants loan to a society of which the director of the Company is a member, Does it attract Section 295 of the Companies Act,1956
CA. B.SRINIVASULU
(Expert)
23 September 2009
Section 295 is attracted if the public company is not in the finance business and the company is lending particularly to this society.
Section 295 is attracted if the public company is not in the finance business and the company is lending particularly to this society.
Manmohan ACA, CS
(Expert)
24 September 2009
I think it doesnot get attracted
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