Loan against shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2014 Dear Experts,

we are a public listed company at bse & nse exchange.

Please advise whether company can take loan against pledging directors shares of the said company from individuals ?

Please advise.

Regards,

Vijay Jain

Amol S Joglekar

Amol S Joglekar (Expert)
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20 November 2014 Taking loan from INDIVIDUALS? that too director's shares? Approach some banker...psu, private or foreign

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2014 My question is can we take secured loan from individual as per companies act 2013 ?

Please advise.

Amol S Joglekar

Amol S Joglekar (Expert)
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20 November 2014 The company desirous of obtaining loan from individual, it has to comply with the Deposits Rule which include obtaining credit rating, issuing circular, creating reserve account........Source TAXGURU.com
http://taxguru.in/company-law/provisions-companies-act-2013-pertaining-acceptance-giving-loans-company.html

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