https://www.taxtmi.com/caselaws?id=101360 The court determined that the advance given to the director's wife was a genuine salary advance, not a loan under section 295 of the Companies Act. Emphasizing the recipient's employment status and other relevant factors, the court found no evidence of circumvention of the law. Consequently, the conviction and sentence of the accused were set aside, and the revision petition was allowed. en-us Mon, 11 Aug 1986 00:00:00 +0530 Thu, 09 Feb 2012 15:30:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101360 The court determined that the advance given to the director's wife was a genuine salary advance, not a loan under section 295 of the Companies Act. Emphasizing the recipient's employment status and other relevant factors, the court found no evidence of circumvention of the law. Consequently, the conviction and sentence of the accused were set aside, and the revision petition was allowed. Case-Laws Companies Law Mon, 11 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101360