Unsecured loan obtained by pvt ltd co fron trust
This query is : Resolved
23 December 2015
dear all,
pls help me out of following. we hv pvt ltd co who took 1cr unsecured loan from charitable trust.
need to know whether company violated any prov. of co act 2013
19 January 2016
As per definition of deposit under Companies Act, 2013
Any non-interest bearing amount received or held in trust is not deposit and such is allowed for the company. Just follow the section 179(3) for loan taken.
Any non-interest bearing amount received or held in trust is not deposit and such is allowed for the company. Just follow the section 179(3) for loan taken.
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