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Company Law

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09 December 2010 CAN A CLOSELY HELD LTD. CO. TAKE UNSECURED LOANS FROM ITS SHAREHOLDER, DIRECTORS AND FROM THE RELATIVES OF THE DIRECTORS AND SHAREHOLDERS AND UPTO WHAT LIMIT.DOES SECTON 58A , COMES IN WAY.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
09 December 2010 Only loan from directors & their relatives is possible not from others. A certificate should be taken from them that the said funds are not paid from borrowed funds. So i think that would be the limit.

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