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As per Companies Act 2013, a shareholder cannot give loan to company but a director can give loan to company...If the director is also a shareholder as in the case of most of the private limited companies then can such shareholder give loan in the capacity of being a director. is nt it a violation..?
Replies (3)
No violation, provided you obtain the declaration, as required in the deposits rules, from the director cum shareholder....
In position of Director, he can give loan to company, there is no violation.
Yes, it will be exempt. You may also refer FAQs on Companies Act 2013 issued by ICSI in last month for same reply.
https://www.icsi.edu/portals/0/FAQS%20ON%20THE%20COMPANIES%20ACT%202013.pdf
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