Easy Office
LCI Learning

Deposite

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 February 2016 Can a company obtain money/unsecured loan from a trust in which trustees of such trust are holding shares in the that Company.

Please tell me the relevant provision if it is possible.


Thanks in Advance.
Profile Image

CS Divesh Goyal

Profile Image

CS Divesh Goyal (Expert)
28 February 2016 No a Private Company can't take laon from the Trust.
It can accept loan only from the followings:

1. Members of The Company
2. Relatives of the Directors
3. Directors
4. inter corporate Loan

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