Loan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 October 2013 I am an individual.I am planning to invest in a Indian pvt ltd company.Is it better to give cheque in company's name or in the name of a particular director?

What precautions should be taken for security purpose?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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23 October 2013 Uusaally it is better and given in name of company only. keep the agreement with u safely after duly signed by the beneficiaries of loan, have the clause of charging of assets as secutiry in case they dont repay,int clause must be suitably defined and penalty for not making dues and int on time etc.

should have 2 indepe witnesses not belonging directly to co and should have surieties in case if they dont pay he will pay.

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