Amount taken from directors
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 July 2015
WHETHER DIRECTOR CAN PURCHASE SHARES OF HIS COMPANY THROUGH BORROWED FUNDS? WHETHER IT IS COVERED UNDER DEFINITION OF DEPOSITS?
01 July 2015
You are mixing two things. Shares can never come under Deposit rules. Shares can be purchased by Director. It is irrelevant whether he purchase it from owned funds or borrowed funds. It is his lookout and not company's lookout.
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