Unsecured Loan From Directors and Shareholders

Dear sir,

What is the maximum interest payable on unsecured loan taken from directors of a public limited company. Is it as per SBI interest or how??

Respected Sir,

Plz Help

Can private Company take loan or deposites from another private company.

It can accept loans subject to provisions contained in Section 372A of the Companies Act, 1956.

Any amount borrowed by a company from another company does not fall under the term "deposit" as per Section 2(b)(iv) of the Companies (Accpetance of Deposit) Rules, 1975.

dear all,

if some one tells me who are the directors relatives in case of loan taken by private limited company?

No Company shall invite or accept or renew any deposits in any form, on a rate of interest exceeding the maximum rate of interest as prescribed by the Reserve Bank of India at rests which shall not be shorter than monthly rests.

At present the maximum rate is 12.5%.

Dear Mr Ankur garg,

Thank you so much for the valuable information.

I would further like to ask what if a director of a pvt ltd co. had taken loan from some individual and then provided the same to the company in his capacity as a director?

Regards

CA Naheed shaikh

Assistant manager accounts

Dharni sampda pvt ltd