Unsecured Loan in between 2 pvt ltd companies
This query is : Resolved
Davender Kumar
(Querist)
05 February 2022
Hi,
I want to know that if one director have position in 2 domestic companies as director than one company will give unsecured loan to unother company? or in between both companies give loan to each other ?
thanks with regards
D.K. Sharma
I want to know that if one director have position in 2 domestic companies as director than one company will give unsecured loan to unother company? or in between both companies give loan to each other ?
thanks with regards
D.K. Sharma
CA R SEETHARAMAN
(Expert)
06 February 2022
As per the provisions, the Companies can accept unsecured loan or deposit from Director of the company provided further that such amount is not a borrowed amount and can accept inter corporate loan(s) from another body corporate and not from any other person.
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