Deposite
This query is : Resolved
26 February 2016
Can a company obtain money/unsecured loan from a trust in which trustees of such trust are holding shares in the that Company.
Please tell me the relevant provision if it is possible.
Thanks in Advance.
Please tell me the relevant provision if it is possible.
Thanks in Advance.
CS Divesh Goyal
(Expert)
28 February 2016
No a Private Company can't take laon from the Trust.
It can accept loan only from the followings:
1. Members of The Company
2. Relatives of the Directors
3. Directors
4. inter corporate Loan
It can accept loan only from the followings:
1. Members of The Company
2. Relatives of the Directors
3. Directors
4. inter corporate Loan
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