Loan
This query is : Resolved
29 October 2013
can a shareholder give loan to a private company? if so what are the requirements? is therea ny limit
Nikhil Kaushik
(Expert)
30 October 2013
no there is no limit. you may execute a proper loan agreement.
CA Pallav Singhania
(Expert)
30 October 2013
A Pvt. Co. has accepted deposits from Shareholder/Director of the company and after acceptance of deposit, the depositor cease to be the Shareholder/Director of the company.
The company can continue to hold the deposit up to the completion of the tenure of the deposit. It is even difficult for the company to repay the deposit since the funds are invested by the company keeping the maturity date in view.
The company can continue to hold the deposit up to the completion of the tenure of the deposit. It is even difficult for the company to repay the deposit since the funds are invested by the company keeping the maturity date in view.
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