Menu
Loans and advances
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
Recent Topics :
- TDS applicability of foreign remittance to Oracle
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
Related Topics :
CAclubindia
