Loan from director
This query is : Resolved
CA AMIT KUMAR SHARMA
(Querist)
23 March 2015
can a pvt. ltd. company take an interest free loan from its director.
please provide suitable answer with section
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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