Can a pvt. Company be a co-borrower for director loan

KAILASH (CA) (58 Points)

18 June 2021  

Can a pvt. Ltd company be a part of director loan as co-borrower.

Case1 - director is taking home loan , being is income is not sufficient for such loan , his fully owned pvt. Ltd comapny is coming as co borrower to loan. Is same is violation of section 185 ??