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Loan by llp

This query is : Resolved 
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(Querist)
13 June 2017 Dear Experts,

Is it possible to provide loan by LLP to a company?
The main object of the LLP does not contain any clauses which showing that LLP is doing loan business and LLP is not registered under state money lending ACT.
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
13 June 2017 Yes. but it will be treated as Deposit. and need to comply with the terms and conditions of Companies (Acceptance of Deposit) Rules 2014
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