Private Limited Company Borrowing Powers
This query is : Resolved
Bobby Puvarasan
(Querist)
28 June 2020
whether a private limited company can borrow funds from LLP in which the private limited company is one of the partner in it. The Private Limited Company Have "contributed 25 Percentage of Capital , Holding 25 Percentage of Profits and Holding 55 Percentage of Voting Rights" in LLP.
29 June 2020
YOU HAVE TO SEE SECTION 180, 185, 186 ALONG WITH 179(3) OF COMPANIES ACT. U/S 179, BOARD IS AUTHORIZED TO TAKE BORROWING POWERS BUT YOU HAVE TO CONSIDER THESE SECTIONS AS WELL.
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