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    Loan to directors by Nidhi company?

    Posted By : Sohil / Published on : 26-Jul-2022 05:11 AM / View : 257 / Comment : 1

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    Can a Nidhi company give loan to its Directors if directors are not the members of the Nidhi Company?
    Read more on : company nidhi directors loan

    • Hello Sir!

      Under exemption notification dated 5th June, 2015, it has been clarified that:

      In case of Nidhi company - Section 185 shall not apply , provided the loan is given to a director or his relative in their capacity as members and such transaction is disclosed in the annual accounts by a note.

      Consequently, a director not being the member of the company, not allowed to accept any loan from the company.

      Thanks!

      26-07-2022 / 05:33:44 AM
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