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The Director of the Company taking over Debtors of the Company. In effect loan given by the Director in the Company reduce to the corresponding reduction in Debtor of the Company. Whether such transaction fall within the purview of section 192 - Non cash transactions involving Directors.

Section 192- Restriction on non-cash transactions involving directors.

Posted By: Sandeep gandhi 8 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

I don't think it will a non cash transaction as it involves diminishing of debt

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