ABC Pvt. Ltd. has a paid up cap of 100 rs. and free res. of 50 rs.
It wishes to give a loan to the following :-
1) Its director, to the extent of 30 Rs.
2) Its subsidiary, to the extent of 30 Rs.
3) Its Director's brother, to the extent of Rs. 30/-
Kindly advise on the possibility of the above in light of the Companies Act, 1956.
