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Loan from director

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23 March 2015 can a pvt. ltd. company take an interest free loan from its director. please provide suitable answer with section
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
23 March 2015 Yes. Any private company can accept loan from directors Provided the director has to give a declaration that the money lend is not borrowed from elsewhere. Inference is from Clause (vi) of Rule 2(c) of Companies (acceptance of deposits) rules,2014.
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