18 November 2010
As per caro, if a director from his another co, gives loan to a co., will we mention it in caro? is the transaction liable to be entered in to register u/s 301
Entry in Section 301 register desired where section 297 and 299 is attracted.
In your case loan should be approved by the board resolution and your 1 director is interested in this loan arrangement being the common director.
So disclosure of interest is required by the director as the director is directly interested in loan arrangement u/s 299 and accordingly entry is required to be made in Section 301 register.
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