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Loan from shareholder

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 October 2016 Dear Experts,

My query is: Can a private company accept unsecured loan from shareholder?

Revert asap.

Thanks in advance.
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Pratik Shah

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Pratik Shah (Expert)
22 October 2016 Yes, if specified conditions are fulfilled. Please check notification dated 5th June, 2015 in this regard.
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Thrissurkkaran Ishtan

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Thrissurkkaran Ishtan (Expert)
22 October 2016 Yes. It can. The amount should not exceed Captial + Reserves. In addition, it should file details with ROC. Please see the following link. See Page 3 last para. https://satishca.com/PDFs/Relaxations%20provided%20to%20Private%20limited%20companies%20by%20the%20Ministry%20of%20Corporate%20Affairs%20w.e.f%205th%20June%202015.pdf

Also check https://www.mca.gov.in/Ministry/pdf/Exemptions_to_private_companies_05062015.pdf
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