Loan to directors, etc.

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....is interested or give any guarantee or provide any security in connection with any loan taken by him or such other person:      Provided that nothing contained in this sub-section shall apply to-           (a) the giving of any loan to a managing or whole-time director-            &nbs....

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....bsp;   (a) any director of the lending company, or of a company which is its holding company or any partner or relative of any such director;           (b) any firm in which any such director or relative is a partner;           (c) any private company of which any such director is a director or member; ....