is prior approval of central government is required in every case falling under section 295
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Sec 295 of Co. Act 1956
Replies (2)
Section 295, Requires prior approval from government for granting any loan by company to specified person...
Specified person are: Director, his relative and partner, any firm in which he's partner and any private company in which he is a director...
And section 295 doesn't apply to private company...
Yes the previous approval of the central government is required in all cases falling under section 295.
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