can pvt ltd co accept loan
This query is : Resolved
22 May 2007
A pvt ltd co. can accept loan only from:
i) Shareholders
ii) Directors
iii) Other bodies corporate
for the purpose of their business. However, if the pvt ltd co want to do lending business than it has to take NBFC certificate.
i) Shareholders
ii) Directors
iii) Other bodies corporate
for the purpose of their business. However, if the pvt ltd co want to do lending business than it has to take NBFC certificate.
Sunil Dandekar
(Expert)
22 May 2007
A Pvt. Ltd. Company can accepts loans from a)Members, b) Directors and c) Relatives of Directors ( not members - Note ).
The Relative is defined in the Companies Act, 1956 which may be referred to.
Other than above a pvt. ltd. company is prohibited from accepting deposits or loans from any other person.
The Relative is defined in the Companies Act, 1956 which may be referred to.
Other than above a pvt. ltd. company is prohibited from accepting deposits or loans from any other person.
01 August 2007
Hey,
I think sunil have to modify his answer.
Pvt Ltd Co can take loan from Body corp's also. (Inter-Corporate Transactions)
I think sunil have to modify his answer.
Pvt Ltd Co can take loan from Body corp's also. (Inter-Corporate Transactions)
Srinath A. N.
(Expert)
08 October 2007
The prohibition is only for unsecured loan from outsiders (exept from other stated above). A pvt. Company can accept loan from any person on security.
CA. GOPAL SONIKA
(Expert)
03 March 2008
yes
CA. GOPAL SONIKA
(Expert)
03 March 2008
yes
CMA Ankur Pandey
(Expert)
27 November 2009
good answer by S N KEDIA, agree
CA BHARATH KUMAR
(Expert)
16 July 2012
i agree S N Kedia
CA P K AGRAWAL
(Expert)
24 September 2014
agree with S N KEDIAji
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- TDS on Dashcam rent and allied services
- Royalty payments to the Mining Department for procurement of murum - GST input
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
