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loan to MD and WTD

Supraj Devadiga   22 July 2019

Supraj Devadiga

 1 likes  20 points

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can a private company give loan to its managing director and whole time director???if yes, what is the procedure??

Shivam RC

Shivam RC (Student)     24 August 2019

Shivam RC
 2953 likes  23376 points

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Yes they can give Loan

CS Vasudev Sharma

CS Vasudev Sharma (Service)     30 August 2019

CS Vasudev Sharma
 18 likes  366 points

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Yes the Company is allowed to given loans to its WTD and MD under a loan scheme which is allowed for each and every employee of the orgainisation and dose not limited only to the WTD and MD only.

Sub section 3(a) of section 185 states that

a) giving of any 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;

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