Loan by private company to public company ?

 Public Company cannot accept the loan from private company as there is common director.

Thanks for replying ... Could you please suggest any other alternative route ?

There is no alternative except to change the directors in any 1 of the company. As the companies act is very stringent regarding the acceptance and giving of loan

Even the Majority of the Shareholding is Common ... Is there a way to issue debentures for the loan availed.

Loan cannot be availed only. How can you issue debentures for the loan u want to take if there is common director !

Can you please specify where or in what provision it has been said that public company cannot take loan in case of common director ? If you are refering to Section 185 !!! It is relaxed in view of the exemption ?