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Loan from director
can a director advace a loan to company by taking it from outside parties
Replies (5)
Yes.....
Director can only give loan to the company but a can not taken the loan from related parties.
Kindly quote the relevant section
Pl see rule 2(1)(c)(viii) of Companies (Acceptance of deposit) Rules 2014.
No, From Borrowed Fund ,Director Can't do because it will fall under deposit.
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