banner_ad

Formation of a company

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
25 October 2011 I want to start a private limited company with 2 directors and 1 lakh authorised capital.
A) Can our company borrow /accept money from its members for purchasing of a land on company name to cultivate palmoil trees etc., or to do real estate business and company wants to issue a guarantee bond for repaying the double the amount after 6 1/2 years. what is the procedure to do so.
B) Any restriction on total number of members for collecting the funds and maximum amount restriction.
C) Is DIN required for two directors at the time of formation of the company or with One DIN we can form the company

Please explain in detail and advance thanks for clarifying the doubt.
Profile Image

Veeraraghava Narasimhan

Profile Image

Veeraraghava Narasimhan (Expert)
10 November 2011 a) Ya company can borrow
b) For Pvt ltd max members is 50
c) Yes DIN is required for both the Directors.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details