Loan by huf to company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 April 2016
Dear Experts,
Please guide me on the following:-
Can a HUF grant loan to private limited company or public ltd company in which public are not the shareholder.
Member of HUF:- It consists family member e,g, Karta, wife of Karta and two daughter.
1) Two member of Karta and his wife is director and member of company.
2) Daughter are not member and director in the company.
Company are in need of funds and surplus funds are available in HUF.
Please advice.
Thanking you,
Please guide me on the following:-
Can a HUF grant loan to private limited company or public ltd company in which public are not the shareholder.
Member of HUF:- It consists family member e,g, Karta, wife of Karta and two daughter.
1) Two member of Karta and his wife is director and member of company.
2) Daughter are not member and director in the company.
Company are in need of funds and surplus funds are available in HUF.
Please advice.
Thanking you,
CS Ankur Srivastava
(Expert)
07 April 2016
Yes,
it will be in the name of the Karta of the family for HUF.
it will be in the name of the Karta of the family for HUF.
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