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Loan to director

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Querist : Anonymous

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Querist : Anonymous (Querist)
07 June 2012 can a company give loan to its director?
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Ajay Mishra

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Ajay Mishra (Expert)
07 June 2012 Hi


Yes, company can give a loan to directors.Read Section 295 of the Companies Act, 1956.
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
07 June 2012 Public Company Can Not Given Loan To Director.
Private Company Can Given Loan To Director
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Ajay Mishra

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Ajay Mishra (Expert)
07 June 2012 Hi

Public company can give a loan to its director under section 295 of the Companies Act, 1956.
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Guest

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Guest (Expert)
07 June 2012 Public /Private co can give loan to director. But pls also check section 2 (22) (e) of the Income Tax Act, 1961 regarding deemed dividend.

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