Whether a Pvt Limited Company can accept loan from HUF of the Director

[Kirti Tulsyan]

Dear All,

As per the companies act'2013 a company can accept loan from director provided he gives a declaration that the same is not from borrowed fund.

Whether the company can accept short term loan from HUF of Director where he is the karta.

Plz give your valuable opinion.

Regards,

K Karmakar.

REPLY 1

as per my opinion  HUF of director cannot give loan  

Nimesh Mohta

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Best Regards, 
Kirti Tulsyan
B.Com.,ACA,CS


P.D.Rungta & Co. 
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[Kalidas Ramaswami]

In my view the answer is no.If any amount is taken it would be a deemed deposit leading to compliance with the Deposit rules.
regards
kalidas
 

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Date: Fri, 16 May 2014 10:47:15 +0530
Subject: [CA RUNGTA PD] Whether a Pvt Limited Company can accept loan from HUF of the Director
From: caktu...@gmail.com
To: foru...@googlegroups.com

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[CS SANDIP KEJRIWAL]

a company can accept loan from director. but the company cannot accept loan from HUF.

 

CS SANDIP KUMAR KEJRIWAL, FCS
PRACTICING COMPANY SECRETARIES
# 322,3rd Floor,
Martin Burn House,
1. R.N. Mukherjee Road,
KOLKATA 700 001
email:sand...@yahoo.co.in
phone:9831074124/9433074124/40661362/22623160

[Manoj Jha]

Dear Sir

 

Request you to please elaborate step wise procedure/compliance that a Pvt. company  is require under deposit rules for accepting loan from a other Individual/HUF.

I along with other member will be benefited.

 

Thanks

Manoj Jha

[exon.me...@gmail.com]

YES

US 2B(IX)

[Exon Mercantile Pvt Ltd]

for eg there are 3 director in the pvt ltd co and these 3 are the only member of huf as co personer in the huf,under this circumstance it can,i meant,am commenting as per section 2(b)ix

kindly check and clarify

Regards

Aditya Agarwal
Director
Exon Mercantile Pvt Ltd

19,Armenian Street 
4th Floor,Room no -504
Kolkata - 700001
Email:exon.me...@gmail.com

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