loan from directors
Gyan Parkash (Student) (40 Points)
13 November 2017
plz provides condtions for loans from directors for a public limited company
2 Replies
Madhwesh K
(272 Points)
Replied 13 November 2017
declaration from director that he has not borrowed that fund - to be obtained.
public company should obtain board approval for borrowing and file that resolution in mgt.14. if the borrowing limit exceeds sec 180 limit, then shareholder's approval also to be obtained.
public company should obtain board approval for borrowing and file that resolution in mgt.14. if the borrowing limit exceeds sec 180 limit, then shareholder's approval also to be obtained.
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