Loan to a company
This query is : Resolved
Debashis Mandal
(Querist)
26 October 2016
Can a Company whether Private or Public Limited take loan from an Individual person not related to the company
Jatin Bajaj
(Expert)
26 October 2016
ACCORDING TO SECTION 2(68) OF THE COMPANIES ACT 2013, A PRIVATE COMPANY CANNOT ACCEPT THE DEPOSITS FROM THE PUBLIC
BUT PUBLIC COMPANY CAN ACCEPT THE DEPOSITS FROM THE PUBLIC BY COMPLYING WITH THE PROVISION OF DEPOSITS UNDER SECTION 73 OF THE COMPANIES ACT OR BY COMPLYING WITH THE PROVISIONS OF SECTION 180(1)(C) OF THE COMPANIES ACT 2013
BUT PUBLIC COMPANY CAN ACCEPT THE DEPOSITS FROM THE PUBLIC BY COMPLYING WITH THE PROVISION OF DEPOSITS UNDER SECTION 73 OF THE COMPANIES ACT OR BY COMPLYING WITH THE PROVISIONS OF SECTION 180(1)(C) OF THE COMPANIES ACT 2013
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