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Can a Private Company accept unsecured loans from a Company

This query is : Resolved 
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(Querist)
12 July 2010 Can a Private Company accept unsecured loans from a Company(whether Pvt. or Public. Ltd.)
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RAMESH KUMAR VERMA

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RAMESH KUMAR VERMA (Expert)
12 July 2010 dear Rupal,
YES CAN TAKE FOR MORE INFORMATION GO TO FOLLOWING PATH:-
https://www.caclubindia.com/forum/unsecured-loan-from-director-of-private-company-34234.asp

Regards
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Bharath Kumar

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Bharath Kumar (Expert)
12 July 2010 Yes they can.
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Ankur Garg

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Ankur Garg (Expert)
12 July 2010 pass a board resolution u/s 292(1)(c) and go ahead.

Section 372A inter-corporate loans is not applicable on a private company.

Regards
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Rupal

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Rupal (Querist)
14 July 2010 Thanks to all
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