Hi please help me that can directors of company provide loan and get loan from company.
3 Replies
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 25 September 2020
No, Director can't take loan from company. However, Director can deposit amount in company as a loan and only that amount can receive back from company.
pritesh
(delhi)
(720 Points)
Replied 30 September 2020
Director can provide loan to company if he give his declaration that the loan fund is his own fund not borrowed fund. further Director also get loan from company subject to the condition of section 185.
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