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Loans from members

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(Querist)
04 October 2018 Dear Experts,

Can a Private Company accept Loan from Members? And What if the Director is the Shareholder too? Please answer under the purview of exemption granted via notification dated 13th June 2017.
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
05 October 2018 Yes. Private company can accept loan from members to the extent of 100%of networth.

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