management of a private limited company
This query is : Resolved
07 January 2009
can a private limited company borrow or raise loans from its directors of the company or from any financial institutions ?
08 January 2009
yes it can.
08 January 2009
yes it can.
26 January 2009
You can borrow loans from directors or financial institutions. But before borrowing you should pass a resolution in the agm or egm authorising board to raise (amount) as loans and conditions if any to be laid down for the same. Just like that you cannot raise you have to follow the procedure.
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