TMI BlogLoan to directors, etc.X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 (i) as a part of the conditions of service extended by the company to all its employees; or ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irector is a director or member; (d) any body corporate at a general meeting of which not less than twenty- five per cent. of the total voting power may be exercised or controlled by any such director, or by two or more such directors, together; or (e) any body corporate, the Board of directors, managing director or manager, whereof is accustomed to act in accordanc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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