Loan
amit c ( Sr. Accountant) (120 Points)
27 February 2017
can a private limited company take loan from a individual for long term basis ?
1 Replies
Jatin Bajaj
(CS)
(2930 Points)
Replied 01 March 2017
The private Company can take loan from the shareholder upto 100% of the paid up share capital and free reserve and securities premium .
Private Company can also take loan from directors or relatives of director upto any amount provided that declaration shall be received from directors or relative of directors that such a loan shalkl be given by them out of their personal funds and not from borrowing from any banks ,
further private company cannot accept the loan from any outside indvisual.
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