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Loan from relative by Private Company

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41 Points Joined June 2020
Can a private company take loan from its relatives?
if yes under what conditions?
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On 01 July 2020 at 12:49 Report
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140 Points Joined April 2017
A private company can take loan from directors and relatives of director. Provided a declaration is given by director and relative of directors as the case may be.
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On 01 July 2020 at 13:42
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41 Points Joined June 2020
Please quote the section
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On 01 July 2020 at 15:39
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140 Points Joined April 2017
Unsecured loan accepted by private company from directors/ relative of directors are covered under the EXEMPTED DEPOSITS under rule 2 of companies (Acceptance of Deposit) Rules, 2014.
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On 01 July 2020 at 17:35
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41 Points Joined June 2020
Thank you
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On 01 July 2020 at 21:26

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