Section 299
Querist : Anonymous
Section 299 casts a duty on a director for disclosure embedded in many provisions of the Companies Act, 1956. Accordingly, every director of a company who is, in any way, whether directly or indirectly, concerned or interested in a contract or arrangement, or proposed contract or arrangement, entered into or to be entered into, by or on behalf of the company, shall disclose the nature of his concern or interest at a meeting of the Board of directors.
Section 301 applies to all types of companies registered under the Act. The Register should be in compliance of the provisions of sections 297, 299 and 300 of the Companies Act, 1956.
Querist : Anonymous
Accordingly Loan from a director is covered u/s 299, isn't it
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