Loan
This query is : Resolved
C.A. LINESH PATIL
(Querist)
24 October 2010
can a private company accept a loan from its share holder at 0% interest.
Thanks in advance
Thanks in advance
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
(Expert)
24 October 2010
Agree with Sir...
However it is not advisable to go for interest free loan from shareholders.
However it is not advisable to go for interest free loan from shareholders.
C.A. LINESH PATIL
(Querist)
24 October 2010
can you guide me about resolution writing.
how to start and end
how to start and end
25 October 2010
Company law doesnot prohibit, to take the laon from member on 0% interest rate.
Abhay Gujarathi
(Expert)
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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