Interest on unsecured loan

Save Share

This query is : Resolved

TARIQUE RIZVI (Querist)
Follow

25 October 2016 Query:
=====
abc pvt ltd has given some unsecured loan to xyz pvt ltd for certain benefit from xyz pvt ltd and just on account of benefit abc pvt ltd has not provided interest on unsecured loan.

Whether abc pvt ltd has violated companies act ?

What will be the worse to worst consequences against the violation of the act ?

Points to be noted:
==================
1) abc pvt ltd has not taken any loan from bank.

2) abc pvt ltd has taken loans from her directors and then given loan to xyz pvt ltd for her benefit and just on account of benefit abc pvt ltd has not provided interest on loan given to xyz pvt ltd.

yrs affectionately
for samnan international pvt ltd
tarique rizvi

982 1630 130

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

26 October 2016 interest on loan is the matter/concern between the management of these 2 companies. No one can force any of the company to CHARGE interest. There can be interest free loan.

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
Follow

29 October 2016 Thankfully received yr reply.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

29 October 2016 you are most welcome.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now