loan from directors,any person
This query is : Resolved
30 July 2010
Dear all,
Please tell me whether there is any limit for a private limited company to accept a loan from a director,shareholder/friends
Thanks & Regards
Nagamani
Please tell me whether there is any limit for a private limited company to accept a loan from a director,shareholder/friends
Thanks & Regards
Nagamani
30 July 2010
NO.
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30 July 2010
The director / shareholder concerned however has to furnish a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting from others. This could be the limit.
Loan from friends should not be taken.
Loan from friends should not be taken.
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