Unsecured Loan in the form of Bills of Exchange

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2011 Hi,

Please let me know if a company can borrow unsecured loan from an outsider individual properietor in the form of BILLS OF EXCHANGE.

Is a bit urgent so please suggest promptly.

U S Sharma

U S Sharma (Expert)
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17 May 2011 bills of exchange is issued against any invoice for export of goods or services, not for loan.

you can take loan by way of remittence, under compliance of FEMA and RBI guidelines.

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