Unsecured loan

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Query Ask a Query

RACHANA DAGA

RACHANA DAGA (Querist)

11 July 2015 Can a private company accept unsecured loan from HUF of promoter OR director.

CS JAY GOHIL

CS JAY GOHIL (Expert)

11 July 2015 company can take loan from director only. further if company has paid up capital less than 100 cr. than it can accept loan from shareholders too upto the total of its paid up capital + free reserves of last audited balance sheets

Ankur Garg

Ankur Garg (Expert)

11 July 2015 Agree with the above opinion of expert.

Thanks

RACHANA DAGA

RACHANA DAGA (Querist)

13 July 2015 Thanks.

If company accept unsecured loan from shareholder within the limit as above, then what compliance it has to follow under the Companies Acceptance of Deposite Rules 2014.

CS JAY GOHIL

CS JAY GOHIL (Expert)

13 July 2015 This type of transction is exempt from deposit rules so no compliamce needed

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now