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Section 185

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(Querist)
04 December 2014 Can a private ltd company give loan advance to any director as per co. Act 2013?? And if any previous advance to director is standing in balance sheet, how can it be rectified??
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CS JAY GOHIL

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CS JAY GOHIL (Expert)
06 December 2014 no company cannot give any loan or advance to any of its dir as per ca 2013 u/s 185 further it is advisable to repay erlier advance

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