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Unsecured loan in private limited comapny

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 August 2016 Dear Members,

I have two queries related to unsecured Loan in private limited company.
1. Is there any Limit related to maximum amount of unsecured Loan from its Director & relative.

2. Can Pvt. Ltd. company accept Loan from its Shareholder's Also.

Please answer early, its Urgent.

Thank You
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Pratik Shah

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Pratik Shah (Expert)
13 August 2016 1. There is no limit for taking unsecured loan from Directors.
2. In case of Private Limited Company, notification dated 05th June, 2015 has given exemption to Pvt Companies wherein, if certain conditions are fulfilled, then Company can take loan upto certain limit from shareholders without complying with Deposit rules. Kindly refer the same.
However, Company can take loan from shareholders if company is complying with Deposit rules as specified in Section 63 to 65. Thanks
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