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Formation of a company

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 October 2011 I want to start a private limited company with 2 directors and 1 lakh authorised capital.
A) Can our company borrow /accept money from its members for purchasing of a land on company name to cultivate palmoil trees etc., or to do real estate business and company wants to issue a guarantee bond for repaying the double the amount after 6 1/2 years. what is the procedure to do so.
B) Any restriction on total number of members for collecting the funds and maximum amount restriction.
C) Is DIN required for two directors at the time of formation of the company or with One DIN we can form the company

Please explain in detail and advance thanks for clarifying the doubt.
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Veeraraghava Narasimhan

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Veeraraghava Narasimhan (Expert)
10 November 2011 a) Ya company can borrow
b) For Pvt ltd max members is 50
c) Yes DIN is required for both the Directors.
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