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Loans to/from directors & members

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(Querist)
13 May 2014 1.Can loans be given to/received from a pvt.ltd.co. by its directors as well as shareholders?
2.Can loans be given to/received from a pvt.ltd.co. by another pvt.ltd. co. where there is a common director?
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CA. Amit G. Chandani

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CA. Amit G. Chandani (Expert)
13 May 2014 1. Loan can be received from directors only. Loan cannot be given to Directors except in accordance with Section 185.
2. Loan can be received from a company by another company. Loan cannot be given by one pvt. ltd. to another pvt. ltd. where there is a common director except in accordance with Section 185.
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