Sagar (AM) (123 Points)
24 April 2014Dear All,
Can a private company give a loan to another private company in which relative of director of lending company is a shareholder.
As in any other person category, in case of private company only Director or memeber is included.
Please advise.
Thanks
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 24 April 2014
Yes, i dont think there is any problem in doing it.....
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 26 April 2014
Yes, from lending company's perspective loan can be given subject to compliance of Sec.186.
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