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Loan

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(Querist)
19 June 2015 can a company take loan from an individual which is neither a director nor relative of director.
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CS JAY GOHIL

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CS JAY GOHIL (Expert)
19 June 2015 not it can not take
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Deepak

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Deepak (Querist)
20 June 2015 can a company take loan from an individual Who is relative of director.

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CS JAY GOHIL

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CS JAY GOHIL (Expert)
20 June 2015 company can take loan only from it directors. further director should have its owned fund he can not give loan from borrowed fund. affidavit is required regarding owned fund. a private limited company whose share capital is less than 100. cr. can take loan from its share holders subject to maximum of paid up capital and free reserves.
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