NBFC loan to its Auditor

Yes it can give provided it is at arms length

141(3)(d)(ii)person who, or his relative or partner is indebted to the company, or its subsidiary, or its holding or associate company or a subsidiary of such holding company, in excess of such amount >5 Lacs(sub rule 2 of rule 10 of CH- X)
isn't it?....
ofcourse it is in the course of business!...
hmmm??!!...
waiting for reply!

Please do not speak alone of cos act requirements. Even RBI act has to be taken for. consideration.

I see😐😐(i don't know),Do RBI act talk about this?(I wonder).....oh,please don't take it serious of mentioning the sections,subsections bla bla😅😅😅...

Plz check the RBI act and then talk bla bla bla

that's rude😕😕😕

Hey nothing like that bro it was just a reply

Being a NBFC it must comply with the Companies Act, hence Auditor can't get loan from NBFC, which effect on independence of Auditor, that is wat section 141(3)(d)(ii) says