Unsecured loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 August 2011
Dear All,
Please guide me on --
Can private company obtain interest free unsecured loan from director under company’s act 1956
Please guide me on --
Can private company obtain interest free unsecured loan from director under company’s act 1956
03 August 2011
If the articles of association provides so, private limited companies can take interest free loans from director's. But the company should obtain a declaration from the said director's that the money is not borrowed by him / her.
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