Loan
This query is : Resolved
Guest
Guest
(Querist)
13 January 2010
can a pvt. ltd. co take a loan from the shareholder???
is it violation of co act??
and also from relatives of shareholder and directors???
is it violation of co act??
and also from relatives of shareholder and directors???
13 January 2010
YES. YOU CAN GET THE LOAN FROM DIRECTORS OR SHAREHOLDERS.
CS Vandana Kacholia
(Expert)
13 January 2010
yes even from relative of directors also which a company is supposed to disclose in related party transaction.
others views are also invited
others views are also invited
Aditya Maheshwari
(Expert)
13 January 2010
A private limited company can take loan from directors, shareholders and their relatives only. If the same is complied then no violation of section 58A of Companies Act. However certificate should be taken from the persons from whom loan is received that the loan given is not from loan funds
CA Ravi Sisodia
(Expert)
13 January 2010
Agree
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