Company Law
This query is : Resolved
09 December 2010
CAN A CLOSELY HELD LTD. CO. TAKE UNSECURED LOANS FROM ITS SHAREHOLDER, DIRECTORS AND FROM THE RELATIVES OF THE DIRECTORS AND SHAREHOLDERS AND UPTO WHAT LIMIT.DOES SECTON 58A , COMES IN WAY.
09 December 2010
Only loan from directors & their relatives is possible not from others. A certificate should be taken from them that the said funds are not paid from borrowed funds. So i think that would be the limit.
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