Loan from shareholder
This query is : Resolved
Querist : Anonymous
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.
My query is: Can a private company accept unsecured loan from shareholder?
Revert asap.
Thanks in advance.
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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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
Also check https://www.mca.gov.in/Ministry/pdf/Exemptions_to_private_companies_05062015.pdf
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