Whether a Limited Co. Can take Loan from a Individual
This query is : Resolved
10 July 2009
HI Experts!
Plz Tell me Whether a Limited Co. Can take Loan from a Individual
Plz Tell me Whether a Limited Co. Can take Loan from a Individual
10 July 2009
Hello saurabh,
Yes a public Limited company also can take loan from the individual.
Procedure would be same as in case of pvt. co. taking loan i.e.
For that purpose you have to pass a board resolution u/s 292(1)(c) of the companies act, 1956 for the purpose of borrowing otherwise then on debenture.
Further if any director is interested in the transaction then disclosure of interest by that director is necessary u/s 299 only at a board meeting.
Regards
Yes a public Limited company also can take loan from the individual.
Procedure would be same as in case of pvt. co. taking loan i.e.
For that purpose you have to pass a board resolution u/s 292(1)(c) of the companies act, 1956 for the purpose of borrowing otherwise then on debenture.
Further if any director is interested in the transaction then disclosure of interest by that director is necessary u/s 299 only at a board meeting.
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- Applicable TDS for Purchase of Flat from NRI
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Annual return of gst limit
- Form 10BD Filling
- TDS ON CASH WITHDRAWALS...
- LIC Annuity received under Jeevan Akshay Scheme
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
