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Loan

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(Querist)
24 October 2010 can a private company accept a loan from its share holder at 0% interest.

Thanks in advance
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
24 October 2010 Section 3(1)(iii) (d) does not prohibit a private limited company to take a loan from its members. Interest bearing or not can be determined between the company and the member on the strength of agreement/ resolution.
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Ankur Garg

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Ankur Garg (Expert)
24 October 2010 Agree with Sir...

However it is not advisable to go for interest free loan from shareholders.
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C.A. LINESH PATIL

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C.A. LINESH PATIL (Querist)
24 October 2010 can you guide me about resolution writing.
how to start and end
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
25 October 2010 Company law doesnot prohibit, to take the laon from member on 0% interest rate.
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Abhay Gujarathi

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Abhay Gujarathi (Expert)
25 October 2010 Pvt ltd company can tack loan from only, Shareholder, Director and member. No where it is written that It can not tack loan at 0%.

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