Loan by director to compay
This query is : Resolved
21 January 2015
Dear Sir / Ma'am
Can a private limited company accept loan from it's directors as per new companies act and old companies act.
Please guide me in this regard.
Thanks in advance
Can a private limited company accept loan from it's directors as per new companies act and old companies act.
Please guide me in this regard.
Thanks in advance
21 January 2015
Can accept under both the acts. But the company should obtain a declaration from the lender director stating that money lent is his/her own and not borrowed from elsewhere.
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