Acceptance of unsecured loan from director's relative
This query is : Resolved
29 February 2016
Dear Friends
Kindly Advice on below Query:
Now Private Companies can accept unsecured loans from Relative of Directors w.e.f. 15.09.2015.
Can Relative need to be shareholder of the Company?
Should there be need to transfer the shares to Director's Relative before accepting loan from him?
Regards
Kindly Advice on below Query:
Now Private Companies can accept unsecured loans from Relative of Directors w.e.f. 15.09.2015.
Can Relative need to be shareholder of the Company?
Should there be need to transfer the shares to Director's Relative before accepting loan from him?
Regards
01 March 2016
There is no requirement for a relative to be a Shareholder of the Company.
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