Sec. 25
This query is : Resolved
Dimpi Shah
(Querist)
16 October 2009
Can a company registered under sec 25 take loans from directors and if yes to what extent?
CA. B.SRINIVASULU
(Expert)
18 October 2009
They can borrow from shareholders, if the director is a shareholder then they can borrow from him.
The rate of interest and terms of payment should be reasonable or not prejudicial to the interest of the company.
The amount can be borrowed should not exceed the limit as approved by the shareholders.
The rate of interest and terms of payment should be reasonable or not prejudicial to the interest of the company.
The amount can be borrowed should not exceed the limit as approved by the shareholders.
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