Directors of pvt ltd co. maintaining current a/c in company books is it permissible under company law. Under which group current a/c to be shown.
Can company get loan from directors by cash for ex. Rs.60,000 and Rs.94,000 ect…
Thanks in advance
First of all company is a seperate legal entity so there is no meaning of doing buiness through the Director's account.
Secondly, i think company can take lon from the Director (assuming director is member too).
Others views solicited.
Regards,
CAclubindia
