borrowings by private company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
hella sir
I need to know whether a private company, having paid up share capital & Reserves amounting to Rs.6.45 crores, and secured loans amounting to Rs. 7.72 Crores
Now want to borrow money from eight lenders Sum of Rs. 25 Lakhs each.
Total Of Rs. 2 Crores
is this valid and allowed under provisions of act.
please hurry and say yes or no
with reasons
I need to know whether a private company, having paid up share capital & Reserves amounting to Rs.6.45 crores, and secured loans amounting to Rs. 7.72 Crores
Now want to borrow money from eight lenders Sum of Rs. 25 Lakhs each.
Total Of Rs. 2 Crores
is this valid and allowed under provisions of act.
please hurry and say yes or no
with reasons
Manmohan ACA, CS
(Expert)
04 December 2010
yes, it is allowed
Message likes :
1 times
Ajay Mishra
(Expert)
04 December 2010
Yes.
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