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Unsecured loans from directors

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(Querist)
12 June 2015 Can a pvt. ltd. Co. accept unsecured loans from directors. need the provisions triggering under Co Act.
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c.bakshi

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c.bakshi (Expert)
13 June 2015 yes companies can take it from its director. section 73 to 76 of the Co act, 2013

however new exemptions are also allowed to private companies wef 29/05/2015 , company can take it from its shareholders

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