03 September 2010
Whether a director of private limited company can borrow money from his relative / friends circle and invest the same in pvt ltd company in which he is director? is there any consequences in Other act such as Income tax and FEMA?
04 September 2010
Hey Friend] yes a director can borrow from his frnz, relatives or directors, applicability of FEMA comes into picture only if the borroing is in foreign currency and would like to suggest u to visit //www.advocatekhoj.com//www.advocatekhoj.com here u will find some further details on ur query.
CAclubindia
