Loan by director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2014
What are the provisions regarding a company take a loan from its director under new companies act? Is there any limit regarding rate of interest ceiling for the same?
23 May 2014
Dear Friend,
There are issues with regard to GRANTING LOANS TO directors. But not from Directors. The limit shall not be above the prevailing bank rate.
This is what my understanding on the issue.
There are issues with regard to GRANTING LOANS TO directors. But not from Directors. The limit shall not be above the prevailing bank rate.
This is what my understanding on the issue.
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