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(Querist)
26 September 2008 Sir,
Can a director of a pvt ltd company bring in funds which he received as gift from his relatives as capital/secured loans and meet the expenses of the company?


Regards,
priya
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CHEZHIYAN

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CHEZHIYAN (Expert)
26 September 2008 Yes he can do..
but that money is only a share application money..
and resolutions regarding that has to be passed
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Taxguy

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Taxguy (Expert)
26 September 2008 he can bring such money as loan from director to company.
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CHEZHIYAN

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CHEZHIYAN (Expert)
26 September 2008 You can Bring as loan also but interest rates should be lesser or equal to
as mentioned in Companies Act

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