Is there any restriction on a private limited company to take unsecured loan from a person other than director or shareholder?

Is it necessary for a private limited company to keep the share application money in a separate bank account?

In Case of public Co there are explicit guidelines for application & refunding of application money, but expect few "if's & but" in FEMA/RBI guidelines the laws are literally silent regarding treatment of the same in case of a private co.As such i have observed audited Balance sheets(Pvt Co) wherein "application money(pending Allotment)" appears as a multiple or times of the paid up capital even at times surpassing the authorized capital.
Honorable Experts,Plz Clarify the following in parlance of the aforementioned observations:

1)How can a Pvt Co have excess Share application money since there is no question of Over subscription.
2)Share application money is a part of prospective share capital yet to be alloted then should'nt it be locked up in special account without any mis-utilization?
3)The comments of the auditors concerned spells that(verbal explanation)it is the owners fund used temporarily for financing the working capital which may be withdrawn again.If this is true then is'nt the concept of corporate veil invoked(one man business)?

Please provide me your most valuable comments.
Sincerely thanking you all in advance.

can preference shares be redeemed at a discount? if so, what is the procedure to be followed u/the co.s Act?

Can a Person Be appointed as A Director of the company without having DIN

To increase the authorised capital of the company what type of resolution to be passed in General meeting Special or or ordinary .
If ordinary then whether same is required to befiled with ROC

To increase the authorised capital of the company what type of resolution to be passed in General meeting Special or or ordinary .
If ordinary then whether same is required to befiled with ROC

Can a resolution incorporated in the notice of the general meeting be withdrawn at the meeting.

respected sir,
plz cleared a doubt of mine that, can a rotational director is removed by shareholders under section 284.

Pls guide me by providing a copy of 1st AMG of Pvt Company.

Pvt Fprmed 18.3.2008 and since then no ROC filing done.

whether 18 months account prepared and efile ROC form at present

What are the penalties

pls provide all step by step formalities with ROC

Friends take it seriously

Thanks Bikas