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director's loan

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(Querist)
07 February 2017 whether director can avail loan from any bank by pledging companies property(fixed asset)?If yes, what all documents need to be furnished by company.
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Sandeep Dharar

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Sandeep Dharar (Expert)
07 February 2017 No, a Director Can't take Personal Loan or Loan in his/her own name by pledging the Assets, which r in the name of the company.
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joseph

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joseph (Querist)
07 February 2017 could you please provide me with the section which restricts the same.
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Charu Srivastava

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Charu Srivastava (Expert)
07 February 2017 Section 185 restricts Company to give loan, give guarantee or provide security to the Director or the persons in which directors are interested.
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