Acceptance of loans and deposits by a company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 February 2015
Dear all,
From whom is a company eligible to borrow loans and deposits?
What is the specified limit of such acceptance as per the new companies act?
What are the terms for repayment?
And what are the consequences if not repaid within time limit?
Please guide.
From whom is a company eligible to borrow loans and deposits?
What is the specified limit of such acceptance as per the new companies act?
What are the terms for repayment?
And what are the consequences if not repaid within time limit?
Please guide.
18 February 2015
1. Only Directors and but Members for prescribed company otherwise only and only directors. Section 73 to Section 76 you may refer
2. No such Limit specified but Section 180(1) specify the limit about borrowing power of the company
3. 31/03/2015 only those stand in the name of person other than directors of the company
4. Penalty worth not less than 1 crore and can increase to 10 crore and payment of interest @18% p.a.
2. No such Limit specified but Section 180(1) specify the limit about borrowing power of the company
3. 31/03/2015 only those stand in the name of person other than directors of the company
4. Penalty worth not less than 1 crore and can increase to 10 crore and payment of interest @18% p.a.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
