Please Help: ACCEPTANCE OF LOAN BY PRIVATE LIMITED COMPANY
Posted Date : 13-May-2017 , 03:53:27 pm | Posted By ankit
CAN HUF GIVE LOAN TO PRIVATE LIMITED COMPANY IF DIRECTOR IS KARTA OF THAT HUF? ALSO HUF IS SHAREHOLDER OF THAT COMPANY.
Category : Corporate Law | Answers : 0 | Comments : 1 | Hits : 657
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nitish aggarwal
16-May-2017 , 12:02:30 pmRule 3(1)(viii) Yes, can accept, but the director or relative of directors will give a Declaration in writing that money is not given out of borrowed funds and company will disclose it in the Board's report.