loans and advances
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2011
The company has CC account. It has given loans to different concerns.
can the company give loans or advances to other from CC accounts. As per me CC account is for requirement of working capital and can not be used for giving loans or fund transfer.
Pls advise implication from different points.
can the company give loans or advances to other from CC accounts. As per me CC account is for requirement of working capital and can not be used for giving loans or fund transfer.
Pls advise implication from different points.
24 May 2011
if the company can establish that such advances are provided to clients for business purpose then its admissible
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