Can pvt ltd co. give loan to its director
This query is : Resolved
03 March 2014
Section 185 of the Companies Act, 2013 is also applicable to private companies.
Section 185 prohibits a company from giving loan to its directors.
Accordingly private company CANNOT give loan to its directors.
Section 185 prohibits a company from giving loan to its directors.
Accordingly private company CANNOT give loan to its directors.
09 May 2014
I agree with Siddhartha, no company can give loan to its directors subject to the exceptions provided in Section 185
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