Deposit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2018
Can a private company take loan at interest from an individual outsider? Will that not come under deposit? And as per deposit a private company cannot take loan from individual outsider. Kindly advise.
CS Mitesh Mehta
(Expert)
20 December 2018
Acceptance of loan from an entity or person is not allowed, such a borrowing may take place nevertheless, subject to the fulfillment of conditions as prescribed in Section 73 of the Companies Act, 2013.
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