Can private limited company accept loan from outsiders?
This query is : Resolved
Guest
Guest
(Querist)
25 February 2022
There is a proprietorship converting to company, we know that company can’t accept loans from outsiders(individuals)..what if previous proprietorship has taken loan from outsider?" what happens to that loans after conversion? how we have to treat them?
CA R SEETHARAMAN
(Expert)
25 February 2022
Treat it as loan on take over, no problem.
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