As A banker we have already granted and disbursed Home loan of individual director of XYZ company Ltd.
We have taken company as co applicant and also repayment taken from Company Account.
The company's C.A had cought the violation of section 295 of the company 's Act and blame to the bank
He told the bank that they must have to ask Company law board's Permission before disbursement.
We wish to know that can bank is liable for such violation of section 295 of company law?
