loan from directors and relative of directors

If it is a public company, you have to comply with Sec.180(1)(c) for limit on borrowing.  Further, loan from relatives of directors can be taken in case of private company [Ref.Rule 2(1)(c)(viii) of Deposit Rules].

Prachi filing of MGT-14 has been exempted please read exemptions to private companies.

Prachi ji, There is no need to file MGT-14 by private companies for matters listed in sec 179(3)

Kanj ji, why this reference to sec 189? is it a RPT under sec 188(1)? if so which sub clause of sec 188(1) ?

Can you kindly give the draft resolution for this?

Regards,

Geetha