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Can a director repay the company loan?

chaman prajapat (19 Points)

30 November 2020

can a director repay the company loan?
please explain with section yes or no

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Chirag (Professional) (1979 Points)
Replied 30 November 2020

Yes, He Can Do But It will be from own fund of Director else it'll be considered as deposit, Refer Cos (AOD) Rules, Also Note that Company who is entering into loan agreement with director ,then it will be RPT and approval of board is required.

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