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Loan borrowing

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374 Points Joined December 2017
Can a company borrow loan from directors,shareholders&third paries?if borrowed which section attracts?
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On 18 April 2020 at 23:14 Report
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unemployed
62 Points Joined August 2019
Yes a company can borrow loan from its director. Read Companies (acceptance and deposit) rules
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On 19 April 2020 at 10:58
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374 Points Joined December 2017
Can they borrow from shareholders&third parties
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On 19 April 2020 at 11:01
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unemployed
62 Points Joined August 2019
I am not sure but company can't borrow from its shareholder but can borrow from third parties. Read definition of deposit 2(31) with rule 2(c) of companies (A&D)
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On 19 April 2020 at 11:16
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82 Points Joined February 2020
Provision is differ for private or public company
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On 26 April 2020 at 02:32

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