Loan frm company
This query is : Resolved
27 February 2012
Can Director take loan from the company if yes than what is the treatment in the books.
Ashish Gaggar
(Expert)
27 February 2012
Yes, in case of Private Limited Company providing Loan to Director is possible , since Section 295 is not applicable to Private Limited Company.
In case of a Public Limited Company as per Section 295 it requires Central Government Approval
In case of a Public Limited Company as per Section 295 it requires Central Government Approval
Jiten Gupta
(Expert)
28 February 2012
Yes, under pvt ltd company there is no restriction. In case of public company follow procedure given U/S 295 of companies Act 1956.
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