Interest on unsecured loan

This query is : Resolved

TARIQUE RIZVI (Querist)
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25 October 2016 Query:
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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:
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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)
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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)
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29 October 2016 Thankfully received yr reply.

Amol S Joglekar

Amol S Joglekar (Expert)
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29 October 2016 you are most welcome.

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