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.
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