Loan by public limited company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 November 2012
Hello CCI members,
"We are public limited company in trading business. The Company's MOA include grating/accepting loans & Advances under Other Objects of the company. We have got a request from one of our regular customer for short term financial assistance in the form of loan for which we shall be charging a fixed rate of interest."
My question is that can we do so being a trading concern or whether RBI Regulations as applicable to NBFC shall apply here as well????
Plz answer
Regards
"We are public limited company in trading business. The Company's MOA include grating/accepting loans & Advances under Other Objects of the company. We have got a request from one of our regular customer for short term financial assistance in the form of loan for which we shall be charging a fixed rate of interest."
My question is that can we do so being a trading concern or whether RBI Regulations as applicable to NBFC shall apply here as well????
Plz answer
Regards
19 November 2012
Not on regular basis you can lend the money otherwise you have to procure a licence from RBI for Non Bank Financial activities
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