how a director can take back unsecure loans from pvt ltd

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

23 January 2011 It looks like a dumb question by a dumb person but reality is that one director, let's say Director A (50% share holder) of a pvt. ltd. giving un-secured loans to his company which is totally run by another , director B (also 50% share holder - director). The company is under dispute so director A want to get back his un-secured loans. Please kindly advise how and what should Director A do?

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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24 January 2011 Director B can get back unsecured laon as per terms of the loan agreement.

Querist : Anonymous

Querist : Anonymous (Querist)

24 January 2011 Sir, there was no agreement. So what should director A as a lender should do to recover his money when A is controlling the whole company ?

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