Interest give to director relative

This query is : Resolved

Umakant Tripathi (Querist)
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14 September 2011 Dear Sir,

I want to know that,we should have give interest director relative if we have taken loan in pvt.Ltd.co.from director relative,
Besides this plz confirm also we can take loan in pvt.Ltd.co.from director relative of Rs.10,00,000/-or above and interest will give or not to him,
Plz suggest me,

Regards,
U.K.TRIPATHI

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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14 September 2011 You can do so but you have to disclose in the director's report with the details of relation and loan taken and interest paid.
OM SAI SRI SAI JAI JAI SAI

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)
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14 September 2011 You can take loan and pay interest on it to director's relative.

Abhishek Ranjan Singh
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