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    Repayment of Intercorporate Loan

    Posted By : SARIKA / Published on : 10-May-2022 01:26 PM / View : 135 / Comment : 2

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    Dear All,

    Can a company avail an unsecured loan from the Director and use the same fund for repayment of the inter corporate loan ?
    Read more on : loan intercorporate repayment

    • Hello Madam,

      Greetings!

      Yes, a company can avail unsecured loan from its directors with zero rate of interest, directors are required to give a declaration to the company that the amount is their own money and not borrowed and company can repay inter corporate loan from the amount so received.

      hope it helps.

      13-06-2022 / 05:15:01 AM
      Reply
    • Dear @Sohil Sohil

       

      Can you please share the Drfat format of Declration form Directors for loan?

       

      16-06-2022 / 07:29:41 AM
      Reply
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