Unsecured loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 October 2014
Dear All ,
A Private Limited company can take loan from individual.
Thank in advance.
A Private Limited company can take loan from individual.
Thank in advance.
Nischit Sanghavi
(Expert)
17 October 2014
Companies Act 2013 has brought a major change in the borrowing provisions for private companies and removed shareholders and relatives of directors from the list of lenders. Going forward the private companies can borrow only from directors apart from banks and financial institutions provided the director gives a declaration that the amount that he is giving is not out of borrowed funds.
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