Loan

This query is : Resolved

Guest

Guest (Querist)

13 January 2010 can a pvt. ltd. co take a loan from the shareholder???
is it violation of co act??

and also from relatives of shareholder and directors???

haridhayalan

haridhayalan (Expert)
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13 January 2010 YES. YOU CAN GET THE LOAN FROM DIRECTORS OR SHAREHOLDERS.

CS Vandana Kacholia

CS Vandana Kacholia (Expert)
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13 January 2010 yes even from relative of directors also which a company is supposed to disclose in related party transaction.

others views are also invited

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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13 January 2010 A private limited company can take loan from directors, shareholders and their relatives only. If the same is complied then no violation of section 58A of Companies Act. However certificate should be taken from the persons from whom loan is received that the loan given is not from loan funds