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Director

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(Querist)
03 March 2020 A Pvt company has 2 directors A & B. Director A loaned Rs. 5 lakhs to the company which was used to purchase machinery. The company is not returning the loan to Mr. A.
Can Mr. A sell or take over the machine?
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Akash Monwani

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Akash Monwani (Expert)
03 March 2020 Mr. A can Sue the company , but he cannot sell or retain the machinery
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Eswar Reddy S

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Eswar Reddy S (Expert)
03 March 2020 It is Pvt ltd.So mostly it will be under the control of the two directors. Practically you can't say that the company is not returning. Can you elaborate your story??
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