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Can AOP Borrow from financial Institution

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(Querist)
25 May 2009 Please let me know the situation.

Could AOP Borrow from Financial Institution. Please be specific and give details about case laws or anything.

Thanks in advance.
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CA E.A.Ravikumar

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CA E.A.Ravikumar (Expert)
25 May 2009 AOP is the constitution of the business entity. If the purpose,margin requirements and collateral applicable, if any, are available to the satisfaction of the banker/FI, an AOP can borrow from financial institutions.

You may mention the issue you have faced so that solution may be attempted.
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rakesh

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rakesh (Querist)
13 June 2009 thanks
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