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LOAN TO DIRECTORS
As per Sec 185 can co give guarantee to MD/WTD for any loan taken by them ? And if so what are the procedure the co should follow ?
Replies (3)
Company can give loan to a managing or whole-time director – (i) as a part of the conditions of service extended by the company to all its employees; or (ii) pursuant to any scheme approved by way of special resolution;
"Can give loan" .. but can co give GUARANTEE in respect of any loan given by any company ??
Only loan is covered under expemtion. Hence company cannot give guarantee.
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