Can a director being a shareholder gives loan to the company? Whether that amount will be treated as deposit under Companies Act 2013?
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Acceptance of deposit
Replies (2)
He can give loan subject to his giving declaration as per proviso to Rule 2(1)(c)(viii) of Deposit Rules 2014.
Deposit from members shall not exceed 25% of aggregate of paid up share capital and free reserve as Director is a shareholder.
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