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Pvt ltd company can take loans from relative of a director

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Querist : Anonymous

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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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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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..
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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.
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