Take and give loans
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 June 2013
please tell me that a private limited company can take and give loans from individual or huf.
Thanking you
Thanking you
CS Arpita Rajpurohit
(Expert)
03 June 2013
yes but it can take loans from only directors & its relatives. Borrowing from others shall become public borrowing, which a puiblic co. cant.
CA Kapil Verma
(Expert)
03 June 2013
Arpita is correct, loan can be received but subject to condition in AOA.
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