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Lloan given by private company

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 January 2012 Weather Private Company can give loan to any other person .. The person is not Director & also not the relative of Director & not a Shareholder.. plz give me relavent section for this purpose
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
21 January 2012 Yes the loan can be given by the private company.

But loan can not be taken by private company from persons other than its members, directors or their relatives[Sec 3(1)(iii)(d)]
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Jiten Gupta

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Jiten Gupta (Expert)
23 January 2012 Agree with Above reply.
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Charu Srivastava

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Charu Srivastava (Expert)
23 January 2012 There is no restriction in regard to loan extended to any persons but make sure that the articles do not restrict.
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