Can a company take loan of rs 110 lakh(1crore 10 lakh) ?
Querist : Anonymous
Can a company take loan of rs 110 lakh(1Crore 10 lakh) ?
the Autorised Capital of the Company 10lakh.
Actually Dis is a new Company with Authorised Capital of 10 lakh , the Company wants to purchase a Land of Value Rs 1 Crore 20 Lakh..... Can Company take loan of Rs1Crore 10 lakh From Directors . Please Suggest Me.....
If Yes then what is the procedure .?
Chandan Kumar Shaw (CA final student)
And yes Company can borrow from Directors.
Querist : Anonymous
If the company is closely held company Both the director is the only shareholder in the company. Then it is necessary to held meeting.
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