Loan to employees
This query is : Resolved
20 November 2014
With reference to Sec 185/186 Companies Act Pvt Ltd Companies cannot lend to Directors and Interested parties.
Wanted to know what about Employees, can Pvt Ltd. or any registered company can lend loan to its Employees.
Please suggest.
Wanted to know what about Employees, can Pvt Ltd. or any registered company can lend loan to its Employees.
Please suggest.
20 November 2014
As per the Companies Act, 2013, company cannot give/take Loan from/to any director, shareholder and their relative.
If employee is covered under the definition of Relative then it is not allowed otherwise company can give loan to its employee
Employee are not covered under the definition of relative
If employee is covered under the definition of Relative then it is not allowed otherwise company can give loan to its employee
Employee are not covered under the definition of relative
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Annual return of gst limit
- Bank accounts of Non resident
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
