Counsel
Ask an expert!
Legal, accounting and compliance advice from qualified professionals.
Section 185 of the Companies Act strictly prohibits a company from advancing any loan, directly or indirectly, to any of its directors. So, strictly speaking, no, a private company cannot give a loan to it directors. However, the Ministry of Corporate Affairs, by an exemption notification has removed this restriction over private companies provided th...
View answer
Looking to hire a professional from our handpicked community?
Explore our services, submit your request and let us do the rest for you.