director of a private company can give loan to company.
plzz give a brief details
6 Replies
AMIT KUMAR SINGH
(22 Points)
Replied 25 May 2017
my query is about... can director of a private company give loan to the said company
Shashikant Sharma
(Company Secretary )
(1253 Points)
Replied 25 May 2017
Directors and relative of directors of a private company can give loan to a private limited in which he is a director. However, the director shall give a decleration that the money which he has given by way of loan is from his own sources and not borrowed from any other person.
Shashikant Sharma
(Company Secretary )
(1253 Points)
Replied 25 May 2017
There is no restriction of amount. The only restriction is that the director ha to give a decleration that money given from his own source and not borrowed from any other person.
AMIT KUMAR SINGH
(22 Points)
Replied 26 May 2017
if the director is shareholder, then is their a restriction
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