Setting off loan and advance given with unsecured loan taken
This query is : Resolved
sachin kumar
(Querist)
25 August 2016
Dear Sir,
A Private company has given loan to one related party and also taken the unsecured loan from other related party. Is this possible under companies act 2013 to set off the two loans after getting the prior permission of both the parties. Is there any violation or not.
A Private company has given loan to one related party and also taken the unsecured loan from other related party. Is this possible under companies act 2013 to set off the two loans after getting the prior permission of both the parties. Is there any violation or not.
Amol S Joglekar
(Expert)
25 August 2016
it is possible to set right, with the consent of BOTH the parties.
sachin kumar
(Querist)
25 August 2016
Any resolution etc needed or not
Amol S Joglekar
(Expert)
25 August 2016
not resolution as such, but do take letters from the parties to that effect.....especially from the party to whom you owe the amount.
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