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unsecuriedloan given by pvtltd

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(Querist)
28 August 2010 the period of loan is short timemy question is can pvt ltd company sancation unsecuried loan to share holder or person the busness of company is not financing fild.
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Ankur Garg

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Ankur Garg (Expert)
30 August 2010 A private company is allowed to extend financial assistance in the form of loan to its shareholders and directors through a board resolution.

But a public company can not give loan to its director without CG approval u/s 295.
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