Loan

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Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2012 can a private ltd company take loan from non shareholder. whether HUF cover under definition of relative

Ajay Mishra

Ajay Mishra (Expert)
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17 September 2012 Hi

Definition of private company give permit to take loan from members, directors and their relatives.

As per section 6 of the Companies Act, 1956 which defines relatives which includes members of HUF and relatives given in Schedule IA of the Companies Act, 1956.

Regards

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