section 299 of the companies act
This query is : Resolved
07 July 2010
Dear Ankur Sir
Section 299 is automatically invoke , as section 295 says about loan to director or his relatives and also incase of 372A also generally a private company finaces within its close circle(i.e group) .So pl. put your opinion whether sction 299 is applicable in this case ( i.e laon or advance made )
Section 299 is automatically invoke , as section 295 says about loan to director or his relatives and also incase of 372A also generally a private company finaces within its close circle(i.e group) .So pl. put your opinion whether sction 299 is applicable in this case ( i.e laon or advance made )
07 July 2010
As suggested earlier the director must disclose his interest in the transaction (Loan to director) in the board meeting u/s 299.
Section 299 is applicable because company is providing loan to its director. So according to me director must be considered interested in the transaction.
Regards
Section 299 is applicable because company is providing loan to its director. So according to me director must be considered interested in the transaction.
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Rent lease agreement
- Relief u/s Section 89
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Agriculture income or business income
- Supply through E-commerce Operators
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
