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Loan to Director


Rohit (student)     11 August 2016

Rohit
student 
 53 points

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whether a private limited company can give loan to its directors.

P.S :- Durectors are not shareholders.

avater

Amit Kanunga (Article Assistant and Post Gradute)     12 August 2016

Amit Kanunga
Article Assistant and Post Gradute 
 52 likes  644 points

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Provisions pertaining to giving loans by the company

Section 185:-

The section provides that no company shall directly or indirectly advance any loan to its director or to any other person in whom the director is interested or give any guarantee or provide security in connection with the loan taken by the director or any such other person. The term “any other person in whom the director is interested” includes firm in which director or his relative is partner and private companies in which the director may be director or shareholder.


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