Loan from individual
This query is : Resolved
06 July 2009
Whether a pvt. ltd. company can take aloan from an individual??
07 July 2009
Yes.
Pass necessary board resolution u/s 292(1)(c)for borrowing money otherwise then on debenture. If any director is interested in the transaction then disclosure of interest u/s 299 is mandatory.
Read section 299 and 300 in this regard.
Regards
Pass necessary board resolution u/s 292(1)(c)for borrowing money otherwise then on debenture. If any director is interested in the transaction then disclosure of interest u/s 299 is mandatory.
Read section 299 and 300 in this regard.
Regards
07 July 2009
Only from shareholders, directors and their relatives.
Otherwise it would tantamount to deposit and violation of Sec.3(1)(iii).
Otherwise it would tantamount to deposit and violation of Sec.3(1)(iii).
07 July 2009
Private Limited company is allowed to borrow from shareholders,directors and their relatives only without violating the provisions of The companies Act,1956.
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