Respected All
Urgent clearification require
Can a private limited company given loan to its director under companies act 2013 ? Director is a shreholder of the company.
Thanks & with best regards
MANOJ KUMAR JHA (MANAGER (ACCOUNTS)) (69 Points)
26 June 2015Respected All
Urgent clearification require
Can a private limited company given loan to its director under companies act 2013 ? Director is a shreholder of the company.
Thanks & with best regards
SATNAM SIDHU
(CA Final STUDENT)
(35 Points)
Replied 26 June 2015
SATNAM SIDHU
(CA Final STUDENT)
(35 Points)
Replied 26 June 2015
ACS Anjali Jain
(SERVICE - CS)
(472 Points)
Replied 26 June 2015
yes if a pvt co fulfills all the criteria then sec 185 will not apply
i. in whose dshare capital no other boady corporate has invested any money
ii. whose o/s borrowing does not exceed twice of paid up share capital or 50cr whichever is lower and
iii. such co has not made default in repayment of borrowings
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