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Unsecured loan from director under companies act, 2013
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"Any amount received from a person who, at the time of receipt of the amount, was director of the Company, will be out of preview of Deposits”.
Condition: The director from whom money is received furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others.
-section179(3)-180
Condition: The director from whom money is received furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others.
-section179(3)-180
thus loan can be accepted from director
Okay. Thank you Sir and is there any RoC compliance for same ? Do I need to intimate to RoC through any form like DPT - 3 or MGT - 14 for the same ?? Pls guide me.
no there is no such requirements...no need to file any form or inform roc
Thanxx a lot Sir :)
Ques.1 Private Company also can accept loan from relative of director, pls provide me exhaustive list of relative of director.
Ques.2 A person who is a partner of director in any other partnership firm , Can s/he can give unsecured loans to a private company.
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