Loan frm company

This query is : Resolved 

27 February 2012 Can Director take loan from the company if yes than what is the treatment in the books.

27 February 2012 Yes, in case of Private Limited Company providing Loan to Director is possible , since Section 295 is not applicable to Private Limited Company.

In case of a Public Limited Company as per Section 295 it requires Central Government Approval

28 February 2012 Yes, under pvt ltd company there is no restriction. In case of public company follow procedure given U/S 295 of companies Act 1956.




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