Hi
What is the procedure for taking a loan (short term / long term) from a Shareholder (member who is not a director) by a listed company? Is there any specific documentation required?
Regards
Sarada
Sarada (N.A.) (63 Points)
31 March 2011Hi
What is the procedure for taking a loan (short term / long term) from a Shareholder (member who is not a director) by a listed company? Is there any specific documentation required?
Regards
Sarada
Jyotika
(study study n study)
(147 Points)
Replied 01 April 2011
A Public ltd. company cannot accept loan from its members it will fall in category of deposit section 58A and acceptance of deposit rules shall be applicable.
csjyotika
CAclubindia
