whether sec 295 compliance is required?

Aniruddha Paralikar (CA Final CS Mcom PGDFS)   (71 Points)

22 February 2010  

Whether a public company is required the compliance of section 295 of companies act if, the company gives an advance to a director for travelling purpose which is to be setltled after some time?

whether the advance can be treated as loan to director and compliance to sec 295 is required?

or it can be treated as pure business advance and no compliance of sec 295 is required?