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Loan from directors, members and their relatives

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 April 2015 whether a pvt. ltd. company take unsecured loans from:
1. Directors
2. Shareholders/Members
3. Directors' relatives

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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
03 April 2015 private companies can borrow only from directors apart from banks and financial institutions provided the director gives a declaration that the amount that he is giving is not out of borrowed funds.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 April 2015 Whether a directors' HUF can give loan to pvt. co.?
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