Loan to company from direcor

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CS CMA Rakesh Chandola (Querist)
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24 May 2016 If Director wants to give loan to pvt comapny in which he is director..Can he give it from his personal loan?

Jatin Bajaj

Jatin Bajaj (Expert)
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24 May 2016 According to section 73 of the Companies Act 2013, Private Company can accept the deposits from the director but not from his personal borrowing.
Director has to file declaration that loan has to be given to private Company but not out of his personal borrowings from others.

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CS CMA Rakesh Chandola

CS CMA Rakesh Chandola (Querist)
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24 May 2016 Thanks ...Can u explain in which form or manner declaration should be filed by director?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 May 2016 Pl see https://docs.google.com/viewer?a=v&pid=forums&srcid=MTc5MTQwNjAwMTkzNzM4MjIwODMBMDA5MzIyNjQ3NzMzNjAxNTgwNzMBVkZqT3JCNExkR2dKATAuMQEBdjI

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CS CMA Rakesh Chandola

CS CMA Rakesh Chandola (Querist)
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29 May 2016 T
HANK YOU SO MUCH SIR..

CS CMA Rakesh Chandola

CS CMA Rakesh Chandola (Querist)
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30 May 2016 Sir can a Director give loan from his fathers fund..i mean fathers account to son(director) then loan to comapny by director..??

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