In what circumstances:
i) may the High Court refrain a person from being directly or indirectly involved in the
management of a company‟s affairs.
ii) may a company make a loan to its directors?
If a person is convicted of any offence in connection with the promotion, formation or management of a company.
If in the course of winding up it appears that a person was knowingly a party to the carrying on of the company‟s business for any fraudulent purpose or with intent to defraud its creditors or creditors of any other person
If an officer of the company is guilty of any fraud in relation to the company or of any breach of duty to the company.
If the company is for the time being private
A subsidiary of the company extending a loan to its holding company which is its director
A company whose ordinary business includes lending of money, which is lent the company in the ordinary course of business
To enable a director meet expenditure incurred or to be incurred for purposes of the
company or to enable him properly perform his duties as an officer of the company.