Accpetance of loan from nonresident individuals by a company

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gayatri (Querist)

11 February 2015 Sir,
Directors of a Private Limited Company having friends in U.S.A, wish to extend financial support by way of loan for an amount of about Rs. 20 crores. Is it allowable under The Companies Act, 2013 without admitting them as shareholders?
In case they are appointed as directors, what should be their minimum shareholding and is it possible to avail such huge amount of loan without permission of Reserve Bank of India?
Please Clarify.

c.bakshi

c.bakshi (Expert)

12 February 2015 the acceptance of money only from director is allowable in the new act. however, other receipt of the money from its shareholders is also fall under the preview of "Deposits"

gayatri

gayatri (Querist)

12 February 2015 Sir,
Can you please quote the section under companies act 2013 and what should be the minimum shareholding to appoint such an NRI as a director?

c.bakshi

c.bakshi (Expert)

12 February 2015 Section 73 to Section 76 of the Co act, 2013 read with acceptance of Deposit rules,2014.
In the definition of "Deposit" you will get more clarification specified under the said rules

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