UNDER NEW COMPANIES ACT 2013.HOW CAN A PRIAVTE LIMITED COMPANY TAKE LOAN FRM PRIVATE INDUIVUAL /HUF FOR BUSINESS ACTIVITIES. WHAT ARE RULES.REGULATION..
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Loan by pvt ltd comapnies
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No, private company can take a loan from an individual only if he is a director (that too, not out of borrowed funds) or if it is part of promoters' contribution as per Bank's stipulation.
A private company can take loan only from directors and ICD's.
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