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V.S. Datey on Companies Act, 2013
  • Loan to Directors

    by Kaushik Nahar on Tuesday, October 09, 2018 at 06:24 PM

    Dear Sir, Private Limited Company having paid up share capital of Rs 2,00000/- 1.Having Rs.35 Lakhs in its Bank Account. 2.Can Loan be Given to Directors? Company is having two directors and both are whole-time. 3.Company is Planning to Strike Off in Near Future. 4.Company is meeting all the three conditions mentioned in circular dated 5th June, 2015. 5.Section 185 Will be attracted?

    Replied byV.S. Datey Thursday, October 11, 2018 at 09:00 AM

    really very difficult to give off hand answer to such tricky questions - however, if it is proposed to strike off name of company, giving loans to directors would be most silly thing to do find some other way to siphon off money V S Datey

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