Loan to Directors - Section 185 - Companies Act 2013 says that any Loan given to MD/WTD is not within the Scope of Section 185(1).
The loan to be provided to MD or WTD should be as per the loan policy framed by the company with respect to its employees and both are treated as the employees of the company OR pursuant to any scheme approved by the members of the Company by passing a special resolution (as suggested by the Companies Act 2013).
Further, restrictions on giving loans etc. to directors have been extended in 2013 Act even to private Companies.
Also another point to be noted here is that these provisions should be considered to be applicable prospectively and should not affect existing loans which are given in compliance with the 1956 Act but which are not in conformity with 2013 Act.
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