kindly please tell me that can a Pvt. Ltd. Company can take loan from its director according to companies act 2013.
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Loan from directors in pvt. ltd. comapny
Replies (2)
Companies Act, 2013 has entailed provisions for giving or diversifying the Companies Fund to others however for the well being of the Company, Loan could be taken from the directors.Other views are solicited.
Rule 2(b)(ix) of Companies (Acceptance of Deposits) Rules 1975 permits borrowing from director of the company and it will not be treated as public deposit. However, corresponding provisions of Companies Act 2013 are yet to be notified. Hence we have to wait for final Rules in this regard.
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