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Unsecured loans

Shah Yash (surat) (80 Points)

24 August 2014

Wherher i cam give loan to private or public company as per the letest companies act amendments I am neither share holder nor director If not what are the ways that i can give loan to pvt ltd or ltd

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Gagan Deep Singh (CHARTERED ACCOUNTANT) (1190 Points)
Replied 24 August 2014

A company can can give loan to a pvt ltd or ltd u/s 186 by the consent of all the directors subject to HIGH ER of the following:

1. 60% of its paid up capital, free reserves & securities premium account or

2. 100% of its free reserves & securities premium account.

If the loan amount exceeds the aforesaid limit then approval of shareholders needed by passing special resolution.

Shah Yash (surat) (80 Points)
Replied 24 August 2014

Dear sir i think u have not understood my Q My Q is that can individual give loan to company And if not thn by which way i can give loan to pvt ltd co

Vandana J Doshi (Practising Company Secretary) (12562 Points)
Replied 25 August 2014

Hi,

As per New CA 2013, any amount taken from individuals, not being a director of the company, will be treated as deposits and the company will then have to follow the deposit rules.....

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