LOan by a Director to a Pvt LTd Company
This query is : Resolved
07 January 2011
Can Loan be taken by a Private LTd Company from a foreign Director ,Director's Relative(foreigners) and Shareholders in FOreign currency? plz let me know the relevant sections related to it too..
07 January 2011
Loans can be taken from the aforesaid persons.
As per Companies Acceptance of Deposit Rules, 1975 "Deposit" includes any amount borrowed by the company but does not include loans taken from directors or relatives of directors or members of the Company.
As per Companies Acceptance of Deposit Rules, 1975 "Deposit" includes any amount borrowed by the company but does not include loans taken from directors or relatives of directors or members of the Company.
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