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Loan by company

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Vivek Khakhkhar

Vivek Khakhkhar (Querist)
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01 May 2014 Can a private company as per new companies act, 2013 avail loan from director's relative, shareholders, HUF etc. & what is section/provision of the same?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 May 2014 Yes can be taken but subject to fulfilment of certain condition. Not as easy as it was under Companies Act 1956.

Please refer to Section 73(2) of the Companies Act 2013. Link of bare act is given below--

https://www.mca.gov.in/Ministry/pdf/CompaniesAct2013.pdf

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Vivek Khakhkhar

Vivek Khakhkhar (Querist)
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02 May 2014 Thank You Sir for your response.

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