Loan from Director

A private limited company can take unsecured loan from its shareholders, directors and their relatives and the same would not be covered under section 58A and other deposit provisions as such transaction is exempt by deposit rules 1975. (b)

"deposit" means any deposit of money with, and includes any amount borrowed by, a company, but does not include-

(ix)

any amount received by a private company from a person who, at the time of the receipt of the amount, was a director, relative of director or member:

Provided that the director or member, as the case may be, from whom money is received, furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting from others;

Now My question is Whether a Director holding less than 10% shares in  co.,A can take a loan from it and extend the loan amt to co., B in which also he holds less than 10% shares.