Loan on interest from director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 November 2016
Dear All
Pls clarify weather a company can accept the loan from director on interest @12% if so? What is the formalities for the same,
Regards
Ankur Gupta
Pls clarify weather a company can accept the loan from director on interest @12% if so? What is the formalities for the same,
Regards
Ankur Gupta
19 November 2016
Yes, Loan can be accepted from Director at this rate, provided such Director shall give a declaration that such loan is given out of his owned funds.
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