Loan from directors
This query is : Resolved
Praveen Soni
(Querist)
03 August 2013
Provision regarding Loan from Directors in company law?
Rupesh Jain
(Expert)
03 August 2013
In pvt co co. can take loan from director and their relatives
Ajay Mishra
(Expert)
03 August 2013
Hi
The money received from a director continues to be treated as exempted deposit when the person from whom money has been received ceases to be a director of the company. But, the case is not same in case of a shareholder.
You can take loan under section 292 of the Companies Act, 1956.
The money received from a director continues to be treated as exempted deposit when the person from whom money has been received ceases to be a director of the company. But, the case is not same in case of a shareholder.
You can take loan under section 292 of the Companies Act, 1956.
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