director's loan
This query is : Resolved
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.
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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07 February 2017
could you please provide me with the section which restricts the same.
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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