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unsecured loan from directors

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7 Points Joined September 2018
can company take unsecured loan from directors of the company ?
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On 04 October 2018 at 13:33 Report
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practitioner
553 Points Joined February 2012

Yes a pvt ltd company can take loan from the director.

Director must give a declaration that the loan given is not from the boorowed fund

 

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On 04 October 2018 at 13:46
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7 Points Joined September 2018
can you please mention that section
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On 04 October 2018 at 13:48
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practitioner
553 Points Joined February 2012

Refer Rule 2(1)(viIi) of Chapter V

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On 04 October 2018 at 14:20
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CS
26 Points Joined September 2012
Please refer section 185 and 186
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On 04 October 2018 at 18:19

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