loan to company by director

Dear All
" Xyz is public ltd company.
the Director 'X' had taken loan from the bank and the same loan was given by 'X' Director to XYZ ltd co. and The company is giving every month EMI(principle+interest) to director and the director is repay same amount to the bank"

MY query is that
whether the company liable to deduct TDS on interest portion (interest Amount is more than 10,000 every month)

 

According to me

Section 194A Cleary states that any person (other than ind/huf) should deduct tds if interest amount is more than 10,000/5,000

in this case since director has taken a loan as in individual capacity and he is not covered by section 44AB . No tds on interest amount paid by director

Yes the company is liable to deduct tds on interest portion since it exceeds rs 5,000