Loan to company from direcor
This query is : Resolved
CS CMA Rakesh Chandola
(Querist)
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
(Expert)
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.
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
(Querist)
24 May 2016
Thanks ...Can u explain in which form or manner declaration should be filed by director?
25 May 2016
Pl see https://docs.google.com/viewer?a=v&pid=forums&srcid=MTc5MTQwNjAwMTkzNzM4MjIwODMBMDA5MzIyNjQ3NzMzNjAxNTgwNzMBVkZqT3JCNExkR2dKATAuMQEBdjI
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CS CMA Rakesh Chandola
(Querist)
29 May 2016
T
HANK YOU SO MUCH SIR..
HANK YOU SO MUCH SIR..
CS CMA Rakesh Chandola
(Querist)
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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