Approval of Central Government under section 295 not required for purpose of grant of house building loan to managing directors/whole-time directors

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....urpose of grant of house building loan to managing directors/whole-time directors Section 295 of the Companies Act, 1956, prohibits a public company and a private company which is a subsidiary of a public company from making a loan to its directors, etc., without prior approval of the Central Government. This Department has formulated guidelines for the grant of house building loans by such com....