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    Loan from Director

    Posted By : damini / Published on : 11-Dec-2019 05:57 AM / View : 482 / Comment : 0

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    Could you please share your views for the following questions:



    a) 1. Whether a Company can accept optionally convertible debenture from a shareholder cum director of a company? It needs to be noted that the director cum shareholder will borrow the funds from a NBFC



    b) 2. If the above is not possible , whether the director who is also a partner in a firm can withdraw his capital from the firm and to facilitate withdrawal the firm would need to borrow from the NBFC. Currently in the books of the firm ,on the liability side there is partner’s capital and on the asset side there is land .
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