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Can a Private limited co. can accept Loan from an individual

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(Querist)
25 March 2009 Please let me know if a private limited co. can accept loan from an individual.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
25 March 2009 A pvt ltd co. can accept loan only from:
i) Shareholders
ii) Directors
iii) Other bodies corporate
for the purpose of their business.
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CA. Aryendra

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CA. Aryendra (Expert)
25 March 2009 I support Prakash Somani
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
25 March 2009 Also loan can be accepted from relatives of directors.

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