can a private limited company make a loan to outsider (i.e. a person who is neither a director nor a shareholder)? if allowed or not allowed, under which section? also can a pvt ltd co make a loan to its director who is not having substantial interest?
1 Replies
Sudhir Garg
(Service)
(236 Points)
Replied 18 March 2011
Hi
As per my understanding, there is no restrictions under companies Act if Pvt company provides loan to outsider or even director. However provisions under section 297, 299 or 300 will be attracted.
Other members views are welcomed.
Regards- Sudhir
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