Loan
This query is : Resolved
11 June 2011
Can a director's father, mother & father's HUF grant a loan to a Private limited company.
11 June 2011
Yes they can.
Sec 3(1)(iii) Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives. So it can be taken from directors relatives.
Sec 3(1)(iii) Prohibits any invitation or acceptance of deposits from persons other than its members, directors or their relatives. So it can be taken from directors relatives.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Query regarding applicability of UDIN on MCA forms signed using DSC by a Chartered Accountant
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
