Can a company take loan from its director?
Also can he hold shares in the company?
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loan from director
Replies (4)
Yes directors can give loan if he holds share
what if director does not hold shares?
i think it does not matter whether he/she hold shares, Co. can accept loan from Director(s)
No, A co. can't give loan to Director. It is strictly prohibited u/s 186.
However, a co. can give loan to members by passing BR in BM.
Is it mandatory that the director giving loan to the company should hold shares?
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