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Interested director

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 September 2011 Can one tell me common independent director of both the companies can be considered as interested Director, while applying for the loan permission under Sec. 295 of the Companies Act, 1956.
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Guest (Expert)
24 September 2011 Yes, he will be considered as 'Interested Director'. Sec 295 will be attracted.

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