Can any private limited company can give loan or advance to directors ?
And what's the provisions and penalties for that ?
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Loan to Directors
Replies (2)
No a company cannot give loan or advances to directors.
If a company contravene the provisions, it may be penalised Rs 5 lakh to Rs 25 Lakhs.
Director will also be penalised.
Yes. 'Private limited: company can give loan to it's directors subject to 3 conditions.
This exemption given to CG under section 462 of companies Act, 2013
This exemption given to CG under section 462 of companies Act, 2013
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