Lloan given by private company
This query is : Resolved
Querist : Anonymous
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
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)]
But loan can not be taken by private company from persons other than its members, directors or their relatives[Sec 3(1)(iii)(d)]
Message likes :
1 times
23 January 2012
Agree with Above reply.
Message likes :
1 times
23 January 2012
There is no restriction in regard to loan extended to any persons but make sure that the articles do not restrict.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Reporting Income under Section 44ADA
- Showing Gift from relative in ITR for this year
- ITR 1: Details for showing Exempt Income
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
