Loan from director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 October 2016
Dear Experts,
Pls clarify weather pvt. Ltd. Company can accept the loan from its director who is holding 50% share also. If so? What is the procedure,
Regds
Anuj Shrivastava
Pls clarify weather pvt. Ltd. Company can accept the loan from its director who is holding 50% share also. If so? What is the procedure,
Regds
Anuj Shrivastava
28 October 2016
Yes , Private Company can accept Loan from Director subject to the condition that such Director shall file the declaration in the prescribed format that loan has not been given from borrowing from banks or institutions and loan has been given out of his personal funds.
Further Pvt Company can acept the Loan from Directors just by passing Board Resolution under section 180(1)(c) of the Companies Act 2013
Further Pvt Company can acept the Loan from Directors just by passing Board Resolution under section 180(1)(c) of the Companies Act 2013
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
