Can a director take advance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 August 2013
Dear Sir,
I amm the director of a private limited company. I have a plot of land which I want to give on rent with an non refundable advance of Rs. X and Rs. Y amount of monthly rent. Am I permissible to do that under companies act.
I amm the director of a private limited company. I have a plot of land which I want to give on rent with an non refundable advance of Rs. X and Rs. Y amount of monthly rent. Am I permissible to do that under companies act.
18 August 2013
Hi
You can give, because it is your property, the company will not involve in it, because you are only director of that company. There is no restriction under Companies Act, for this.
You can give, because it is your property, the company will not involve in it, because you are only director of that company. There is no restriction under Companies Act, for this.
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