Unsecured Loan by Partnership Firm
This query is : Resolved
01 September 2023
Can A partnership firm engaged in trading activities grant unsecured loan to another partnership (not related in any any manner).
Is there any legal issue under money lending Act and any other Act ???
Is there any legal issue under money lending Act and any other Act ???
21 January 2024
There is no restriction under the partnership act for obtaining unsecured loans from anyone. Hence in case of a partnership firm, the firm can obtain loans from anyone for its business or investment activities.
https://www.quora.com/Is-a-partnership-firm-allowed-to-take-a-loan-from-other-than-a-partner
https://www.quora.com/Is-a-partnership-firm-allowed-to-take-a-loan-from-other-than-a-partner
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