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Advance to director for purchase of property

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CA
156 Points Posted on 16 December 2023
can NBFC give advance to its director against the purchase of property ?
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On 16 December 2023 at 16:03 Report
Replies (4)
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Student
1628 Points Posted on 17 December 2023
Case-1: Advance > 5 Cr with the approval of BoD

Case-2: Advance < 5 Cr without approval of BoD but to be reported to the BoD
4 Reply
On 17 December 2023 at 09:31
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Profession Business
28196 Points Posted on 17 December 2023
As per boards resolutions and dep depending upon the share capital and Anwar of the company which subsequent approval of the existing directors
44 Reply
On 17 December 2023 at 11:04
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Professional
1979 Points Posted on 22 December 2023
If it's in the OCB of Nbfc then can be given else provision of section 185 to be followed
6 Reply
On 22 December 2023 at 20:36
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Profession Business
28196 Points Posted on 30 December 2023
No there are other provisions subject to memorandum and articles of association.
44 Reply
On 30 December 2023 at 09:18


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