Easy Office
LCI Learning

Company can take loan form directors?

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 January 2014 CAN A PVT. LTD. COMPANY CAN TAKE LOAN FROM DIRECTORS?
Profile Image

AVTAR SINGH

Profile Image

AVTAR SINGH (Expert)
29 January 2014 Yes. For doing so :

1. Get a letter from the Director that the money has not been borrowed by him for the purpose of lending it to the Company. Otherwise the unsecured loan may be treated as a Deposit.

2.Pass a resolution at a meeting of Board (not by circulation )

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links