Borrowing from llp
This query is : Open
11 February 2016
whether a private limited company can borrow funds from LLP?
or is there any exemption to private limited company in section 73 of deposits rules.Plz urgent to be clarify
CS Divesh Goyal
(Expert)
12 February 2016
As per Definition of Deposit Private Companies are exempted to accept loan from the other Companies.
So private limited Company can accept loan from followings:
1. Directors
2. Members
3. Relatives of Directors
Not allowed from the LLP.
So private limited Company can accept loan from followings:
1. Directors
2. Members
3. Relatives of Directors
Not allowed from the LLP.
12 February 2016
but sir LLP is a body corporate and deposit rules is exempted if pvt ltd co. borrow from llp
because mca had clarified that pvt ltd co. can give loan to director if loan outstanding from body corporate is not greater than 2times of paid up capital or 50 crores whichever is lower.
from the above it seems that pvt ltd can borrow from body corporate.
CS Divesh Goyal
(Expert)
13 February 2016
Mr. Mohan,
These two are different-2 provisions.
If private limited company want to take loan then read section 73 but if private limited company giving loan read 185.
For your sitution you have to see section 73. As per Section 73 you cant take loan from LLP>
These two are different-2 provisions.
If private limited company want to take loan then read section 73 but if private limited company giving loan read 185.
For your sitution you have to see section 73. As per Section 73 you cant take loan from LLP>
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