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Interest on loan
Is it mandatory to receive interest from the Party to whom the Loan is given as per new circular? Is it mandatory to receive interest from the subsidiary on Loan given by the Holding Company?
Replies (1)
As per new companies act (section 186), a company should not give loan to related paty(301 register)
If a loan had given, it would attract a penalty of Rs. 5 lakhs to 25 lakhs.
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