LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Loan borrowing

Abhishek Selvam O (374 Points)

18 April 2020

Can a company borrow loan from directors,shareholders&third paries?if borrowed which section attracts?

Reply
Follow
Share

4 Replies

Vaanie Dangi (unemployed) (62 Points)
Replied 19 April 2020

Yes a company can borrow loan from its director. Read Companies (acceptance and deposit) rules

Abhishek Selvam O (374 Points)
Replied 19 April 2020

Can they borrow from shareholders&third parties

Vaanie Dangi (unemployed) (62 Points)
Replied 19 April 2020

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)

Rinks Singh (82 Points)
Replied 26 April 2020

Provision is differ for private or public company

Recent Topics

More recent discussions | Post

Related Threads

Popular Discussion

Start a New Discussion

Trending Online Classes

Live class on Bonus & Gratuity(with recording)

Mr.Balamurugan Ranganathan

Enroll Now

25 April 2024
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)

CA Arun Chhajer

Enroll Now

21 April 2024
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"

CA Vishal Zawar

Enroll Now

01 May 2024

view all classess

Subscribe to the latest topics :

Search Forum:

Forum Home

Popular Threads