Unsecured loan from Minor
This query is : Resolved
10 March 2010
can a Private Limited Company take unsecured loans from Minor sons of directors?
10 March 2010
A Pvt. Ltd. co. can take deposits from members, directors and their relatives. hence, from the son of director who is a minor, deposits (unsecured loans) can be taken. The fact that he is a minor is not relevant to the Pvt. Ltd.
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