Suppose I am director of the company and Company has given me Loan and I purchased agri Land from that money, that agri land is used by company. Now I want to transfer that agri land in the name of company, but it will take 3-4 months i.e it will be transferred next year What are the consequences?
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Conqeuences of buying a land by director of the company
Replies (1)
First Company given loan to you which falls under Section 185. This is not allowed under section 185 giving loan to director. this is defalut of Section 185.
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