URGENT
Can anybody confirm me that is it allowed to take unsecured loan into unlisted public Company from the Director cum shareholder.
(pls ref. relevant company law, Income tax law and others)
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Unsecured loan from Director cum Shareholder
Replies (3)
yest, very well allowed refer to exemptions under deposit rules
yes it is allowable. it becomes part of Quasi capital
same has been amended again in 2003, please go through latest updated deposit rules, you shall find the answer. u are referring to old rules
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