Loan borrowing
Abhishek Selvam O (374 Points)
18 April 2020
Can a company borrow loan from directors,shareholders&third paries?if borrowed which section attracts?
4 Replies
Vaanie Dangi
(unemployed)
(62 Points)
Replied 19 April 2020
Yes a company can borrow loan from its director. Read Companies (acceptance and deposit) rules
Abhishek Selvam O
(374 Points)
Replied 19 April 2020
Can they borrow from shareholders&third parties
Vaanie Dangi
(unemployed)
(62 Points)
Replied 19 April 2020
I am not sure but company can't borrow from its shareholder but can borrow from third parties. Read definition of deposit 2(31) with rule 2(c) of companies (A&D)
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