CS Rajesh Solanki (ACS) (37 Points)
27 October 2014can an individual director along with his relatives and firm in which he is partner can fund the company? any compliance need to be checked?......
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 30 October 2014
Check provisions of Sections 73, 180, 185.
CS Rajesh Solanki
(ACS)
(37 Points)
Replied 30 October 2014
| Originally posted by : P C Agrawal | ||
 |
Check provisions of Sections 73, 180, 185. |
 |
Dear Sir,
Rule says loan can be taken from Director who is giving declaration that he has not borrowed maoney from anyone.......but if director is also shareholder then what?.......and sec 185 talks about corporate and not about partnership firm or HUF, can Partnership firm or HUF lend money to CO. if karta and coparceners are shareholders…..
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