Loan
This query is : Resolved
26 March 2018
Regards ! Please advise me on the following Query :
1} What is the limit of Loan amount a share holder can issue to a private Ltd company
2} Can a Director give loan to a Pvt / Public Ltd Company - if yes then what is the limit of this Loan amount.
1} What is the limit of Loan amount a share holder can issue to a private Ltd company
2} Can a Director give loan to a Pvt / Public Ltd Company - if yes then what is the limit of this Loan amount.
27 March 2018
1. Private Company can accept loan from shareholders to the extent of 100% of net worth.
2. Private company/Public Company can accept unsecured loan from directors provided that director from whom money is received, furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others and the company shall disclose the details of money so accepted in the Board’s report
2. Private company/Public Company can accept unsecured loan from directors provided that director from whom money is received, furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others and the company shall disclose the details of money so accepted in the Board’s report
27 March 2018
1. Please see MCA notification GSR 464(E) dated 5-6-2015, sl.no.6.
2. Please see rule 2 (c)(viii) of Companies (Acceptance of Deposits) Rules,2014.
2. Please see rule 2 (c)(viii) of Companies (Acceptance of Deposits) Rules,2014.
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