Loan by private companies

This query is : Resolved 

04 August 2011 whether a private company can take loan from another private company? if yes, under which provision of companies act?

04 August 2011 Prima facie No. If intends to take, section 58A of the Companies Act,1956 has to be necessarily complied with.

04 August 2011 whether Section 58A is applicable to private company?


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