In the light of the conditions laid down by Section 185 of
the Companies Act, 2013, examine if the following transactions can be
considered as loans to directors:
(i) Advance payment of salary to the employee who is also
the spouse of the managing director of the company.
(ii) A sale of flat of the company at the current market
rate and price. The director pays 60% cash immediately and contracts to pay the
balance in ten monthly instalments.
(iii) A loan to a firm in which the director of the company
is a partner.
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