Can a public limited company get a loan from its directors/ promoters and promoter group?
if yes can anyone help me on the procedures?
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Loan from the directors
Replies (3)
Yes. It is quasi equity. No such formal procedure.
Yes a Public Ltd. can take loan from Directors and there is no formal procedure for this. Sec. 295 belongs to giving loan, guarantee/ Security by public ltd co. to its Director not vice-versa.
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