Loan

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C.A. LINESH PATIL

C.A. LINESH PATIL (Querist)
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24 October 2010 can a private company accept a loan from its share holder at 0% interest.

Thanks in advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 October 2010 Section 3(1)(iii) (d) does not prohibit a private limited company to take a loan from its members. Interest bearing or not can be determined between the company and the member on the strength of agreement/ resolution.

Ankur Garg

Ankur Garg (Expert)
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24 October 2010 Agree with Sir...

However it is not advisable to go for interest free loan from shareholders.

C.A. LINESH PATIL

C.A. LINESH PATIL (Querist)
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24 October 2010 can you guide me about resolution writing.
how to start and end

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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25 October 2010 Company law doesnot prohibit, to take the laon from member on 0% interest rate.

Abhay Gujarathi

Abhay Gujarathi (Expert)
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25 October 2010 Pvt ltd company can tack loan from only, Shareholder, Director and member. No where it is written that It can not tack loan at 0%.

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