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loan to director

Supraj Devadiga   22 July 2019

Supraj Devadiga

 1 likes  20 points

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whether a private company can give loan to its directors?? if yes,what is the procedure??

Malar P

Malar P   23 July 2019

Malar P

 1 likes  7 points

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exemptions for applicability of section 185
section 185 doesn't applicable to private company subject to following conditions
1. no other body corporate haa invested any money
2. borrowings of such company from banks, financial institutions is less than twice of 2% of paid up capital or 50 crore , whichever is lower
3. such company did not default any repayment of borrowings.

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