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          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.

          Provisions expressly mentioned in the judgment/order text.

          <h1>Loans to directors restricted; companies must not make prohibited related-party loans or guarantees without prior approval.</h1> Section 295 prohibits companies from making loans to, or giving guarantees or securities for loans to, prescribed related persons and entities connected to directors unless excepted; specified exceptions cover private companies, banking companies and certain holding-subsidiary transactions. Companies with pre-existing disallowed transactions must obtain retrospective approval or enforce repayment within a limited period. Persons knowingly party to contraventions face penal consequences and joint and several liability to the lending company for repayment, subject to mitigation where loans are repaid; officers are not liable unless they had knowledge or express notice of the contravention.

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