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Can a private company take unsecured loan on interest from its director? if yes, then is there any restriction on the rate of interest?

Fund raising

Posted By: Akhand 10 year(s) ago

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Expert Ankit Singhi

Yes, there is no separate treatment for public and private company for this purpose, No restriction has been imposed by the Act yet.

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KORADA ANANDA RAO

As on date there are no separate treatment for private companies as the Ministry is in the process of obtaining approval of Hon'ble Parliament u/s 462 of the Act with a view to bring out a notification and hence the rules and restrictions framed u/s 73 are to be complied with to depending on whether the director is a member (holding shares) or other public

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hitender tanwar

I agree with Mr Rao

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