acceptance of loan by a pvt ltd company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 August 2010
dear sir, Is a company prohibited from accpting loan from any person other than director shareholders or their relatives ?
26 August 2010
No.It only prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives and any invitation to the public to subscribe for any shares in, or debentures of, the company.
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