Regarding acceptance of loan
This query is : Resolved
04 August 2015
sir,
i want to know if, HUF is a proprietor of a proprietorship firm and their karta is a director in a pvt. ltd. company. in this case company can accept loan from that proprietorship Firm.
i want to know if, HUF is a proprietor of a proprietorship firm and their karta is a director in a pvt. ltd. company. in this case company can accept loan from that proprietorship Firm.
07 August 2015
Mr. Amit,
In case of Private Company. Comapny can take loan only from the following:
Directors (its owned fund)
Members upto 100% of paid up share capital and free reserve
inter corporate loan.
Loan from the HUF or Proprietor Firm will consider as deposit. Which private Company can't accept.
In case of Private Company. Comapny can take loan only from the following:
Directors (its owned fund)
Members upto 100% of paid up share capital and free reserve
inter corporate loan.
Loan from the HUF or Proprietor Firm will consider as deposit. Which private Company can't accept.
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