limitation for giving loans by a privare limited company
This query is : Resolved
02 January 2009
Are there any limitation for giving loans by a privare limited company. I have heard that if loans exceed by 50% of paid up capital it is regarded as NBFC. Please Heip
CA Kishore Tallam
(Expert)
14 April 2012
Not only 50% of assets criteria, it has to satisfy 50% of income criteria also i.e of its total income if more than 50% is from financial services, then it will be rendered as a NBFC.
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