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Amount taken from directors

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 July 2015 WHETHER DIRECTOR CAN PURCHASE SHARES OF HIS COMPANY THROUGH BORROWED FUNDS? WHETHER IT IS COVERED UNDER DEFINITION OF DEPOSITS?
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Pratik Shah

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Pratik Shah (Expert)
01 July 2015 You are mixing two things. Shares can never come under Deposit rules. Shares can be purchased by Director. It is irrelevant whether he purchase it from owned funds or borrowed funds. It is his lookout and not company's lookout.

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