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)]
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23 January 2012
Agree with Above reply.
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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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