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Loan from director

A director is an Indian origin but now a resident of UK. The Indian company wanted to take loan from this Director. The said director is having money in his Indian bank account. Can his give loan to this company? As per companies act the company can take loan from Director. But since this director is nkn resident, whether we need to take RBI approval to take loan from the non resident director ??


madhu kuttan pillai

madhu kuttan pillai

CA Inter

0

21-Dec-20 15:33

21

Answers (1)

RBI guidelines should be followed for such loans.


Suraj Lakhotia

Suraj Lakhotia

Admin

23-Dec-20 19:41

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