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Section 295 of Companies Act, 1956

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 June 2010 Section 295 of the Companies Act, 1956 is not applicable to Banking Company. If a NBFC public limited listed company has given loan to its Directors and relatives of Directors then whether the provisions of Section 295 are invoked?
Please reply me as early as possible since it is very urgent.
Thanking you in advance.

Danish
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
16 June 2010 NBFC is not a banking company and hence that section is applicable to the company.

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