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Can pvt. ltd company take loan?

This query is : Resolved

CA Anil Gabel (Querist)
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02 August 2015 dear sir, Whether Pvt. Ltd. Company can take loan from directors and their relatives as well as from public... its urgent... kindly clarify... Regards Anil Gabel

Pratik Shah

Pratik Shah (Expert)
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03 August 2015 A Pvt Co can take loans from Directors without any limits, provided such Director should make an declaration that he has not given this amount from from borrowed funds.

A Pvt Co can not take loan from their relatives and from public.

Also, ensure that you comply with Section 180.

For more details, please refer Section 180, 73/76 and definition of Deposit as given in Rules.

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