Deposits by director to company
This query is : Resolved
SURABHI GUPTA
(Querist)
30 May 2019
Can a director of pvt co. give interest free loan to company ?
CS Mitesh Mehta
(Expert)
30 May 2019
Amounts received from directors are loans and not deposits if the directors give the amount out of his
own sources and not borrowed funds and give a certificate to that effect to the company. In such a case
a company may accept loans from directors without interest too
own sources and not borrowed funds and give a certificate to that effect to the company. In such a case
a company may accept loans from directors without interest too
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SURABHI GUPTA
(Querist)
31 May 2019
THANK U SIR FOR REPLY.
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