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management of a private limited company

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(Querist)
07 January 2009 can a private limited company borrow or raise loans from its directors of the company or from any financial institutions ?
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girishbr

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girishbr (Querist)
07 January 2009
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CS Arpita Rajpurohit

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CS Arpita Rajpurohit (Expert)
08 January 2009 yes it can.
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CS Arpita Rajpurohit

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CS Arpita Rajpurohit (Expert)
08 January 2009 yes it can.
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
26 January 2009 You can borrow loans from directors or financial institutions. But before borrowing you should pass a resolution in the agm or egm authorising board to raise (amount) as loans and conditions if any to be laid down for the same. Just like that you cannot raise you have to follow the procedure.
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