Loans to Director(Section 295)

yes this transaction will fall under sec. 295.

because specified person include dierctor of lending co. and relative of such director.

and entry in register maintained u/s 301 is not required because that register is maintained for the section 297 or 299.

in my opinion comapny or director who is in default can go for compounding u/s 621 A.

yes this fall under 295. the company has to take prior permission of central government.

Although there are many bail out packages also available.

Dear gita sir,

In this article the relationship between Sections 297, 299 and 301 is discussed,

and also the additional information that is required to be obtained by the Auditor

for commenting upon the completeness of the 301 Register is discussed.

article

Hi

can u tell me whether sec 295 is applicable or not

or can co just enter a MOU with the Director relative.