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Grant of loan to shareholders by private limited company
Dear Sir(s)/ Madam(s),
Kindly advice if there are any restrictions on a Pvt. Ltd. Co. for granting loans to its shareholders who are not directors and do not come in the purview of definition of relative.
Replies (1)
No restriction. A company can give loan to the shareholders subject to following the conditions as specified in Section 186. Need to note that the person must not be director or relative of director as section 185 PROHIBITS THE SAME
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