Unsecured loan from a huf in a pvt. ltd. co.

This query is : Resolved

deepika dhakad (Querist)
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24 February 2016 1. Whether a pvt. ltd. Company can accept unsecured loan from any HUF in which director of the Company is a member or Karta ? 2. Whether a pvt. ltd. Company can accept unsecured loan from any HUF in which relative of the director of the Company is a member or Karta? Plz advise based on Companies Act 2013 with relevant provision/ rule/ section.

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CS Divesh Goyal

CS Divesh Goyal (Expert)
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28 February 2016 No cant take loan from the HUF.

Definition of deposit allowed loan to private Comapny only from following sources:

1. Director own fund
2. Relative of director
3. Member