Loan from sole proprietorship of director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 October 2016
Hi,
Can a company take loan from a proprietorship firm in which director of company is proprietor.
Thank
Can a company take loan from a proprietorship firm in which director of company is proprietor.
Thank
13 October 2016
No, that amount will treated as deposit as per the provisions of the Act. company can take loan from its director as unsecured loan
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