Pvt ltd company can take loans from relative of a director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 May 2018
Can a Pvt ltd company raise a loan from director's relative if yes then is there any limit?
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17 May 2018
Private companies can borrow from relatives of director's on the strength of a
declaration that money is his own and not borrowed from elsewhere..
declaration that money is his own and not borrowed from elsewhere..
17 May 2018
and maximum amount a company can take loan from relatives of Director's is
restricted to the sum of paid up share capital, free reserve and share premium
amount.
restricted to the sum of paid up share capital, free reserve and share premium
amount.
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