Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
27 November 2013Friends
A Director of a pvt ltd company wants to give loan to the company. There is no repayment period and the loan is interest free. Is it possible. On what grounds can it be challenged from corporate laws point of view.
Regards,
Mihir
(Wealth Manager)
(5293 Points)
Replied 28 November 2013
I have seen this happening in some companies. I think just a properly worded board resolution should be enough to satisfy the auditors.
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