director loan

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  1. can p ltd \ltd co take loan from directors
     
  2. Sumit Agarwal

    Sumit Agarwal Active Member

    As per new Companies Act 2013, they can take loan from directors but remember the director should only provide loan to company through its own capital not through its borrowed capital.
     
  3. Finmart.com

    Finmart.com New Member

    As per company act 2013, Private and public both company cannot take loan from anybody without complying the provisions mentioned in section 73.But in clause(viii) of rule 2(c) There is an exception which shows that the company can take loan from the director if the director gives the confirmation that the amount he is lending is not out of borrowed fund.
     
  4. Finmart.com

    Finmart.com New Member

    As per company act 2013, Private and public both company cannot take loan from anybody without complying the provisions mentioned in section 73.But in clause(viii) of rule 2(c) There is an exception which shows that the company can take loan from the director if the director gives the confirmation that the amount he is lending is not out of borrowed fund.
     
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