Loan from directors
This query is : Resolved
Jai Kumar Mishra
(Querist)
11 May 2014
dear sir
please advice that whether a pvt. ltd. company can take loan from its directors & shareholders under the companies act 2013. if yes whether the company pay interest on the loan taken from director & shareholders. second ques is if director receive intt & pay intetest to third party from whome they have taken loan then both intt can setoff each other.
11 May 2014
The company can take loan from directors only. For this the Directors can't take loan from others because director's have to give a declaration that the money is their own.
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