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
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