Easy Office
Easy Office

Lloan given by private company

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
21 January 2012 Weather Private Company can give loan to any other person .. The person is not Director & also not the relative of Director & not a Shareholder.. plz give me relavent section for this purpose
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
21 January 2012 Yes the loan can be given by the private company.

But loan can not be taken by private company from persons other than its members, directors or their relatives[Sec 3(1)(iii)(d)]
Profile Image

Jiten Gupta

Profile Image

Jiten Gupta (Expert)
23 January 2012 Agree with Above reply.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

Charu Srivastava

Profile Image

Charu Srivastava (Expert)
23 January 2012 There is no restriction in regard to loan extended to any persons but make sure that the articles do not restrict.

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

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links