Can a director who is also a shareholder of Private Co give loan to his company as per new companies act 2013
Loan by director to private co under new co's act 2013
BHARAT (SALARIED / MANAGER TAXATION) (69 Points)
30 December 2014
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 30 December 2014
Yes, provided he gives declaration that the loan is not being given out of borrowed funds.
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