Bashir Zaman and his two brothers Nadeem and Faheem are the only shareholders of Nakin Tyre Limited (NTL) holding 20 million, 35 million and 45 million shares respectively. Bashir Zaman also holds 2 million shares in Axis Rubber (Pvt) Limited (ARL). The other shareholders of ARL are Tahir, his daughter Nasira and his minor son Rauf, who respectively holds 8 million, 37 million and 3 million shares in ARL. In the lastest election of directors held during the last year, Tahir and Nasira were re-elected as directors of ARL. On 26 February 2023, Bashir Zaman got married to Nasira. On 10 March 2023, the following proposals are under consideration of the boards of NTL and ARL: (i) The grant of a loan of Rs. 50 million by NTL to ARL. The loan will be repayable over a period of five years. (ii) The sale of products by ARL to NTL on special credit term of six months. Under the provisions of the Companies Act, 2017, advise the boards of NTL and ARL the conditions that must be complied with before implementing the above proposals. (Ignore the requirements relating to notice of the meeting) (12)