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amount borrowed by private company


Srinu (Study)     21 July 2019

Srinu
Study 
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is private company borrow funds from a stranger (out siders)

Kunal Mittal (FINANCE OFFICER)     21 July 2019

Kunal Mittal
FINANCE OFFICER 
 22 likes  530 points

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Yes, why not. A private company can do it.

avater

Jatin Bajaj (CS)     22 July 2019

Jatin Bajaj
CS 
 222 likes  2766 points

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A private Company cannot accept the deposit from the third party or the stranger as it would fall under the definition of deposit as per section 2(31) of the Companies Act 2013. But a private Company can accept the deposit from the other companies subject to the compliance of section 180 of the Companies Act 2013

Srinu (Study)     30 July 2019

Srinu
Study 
 2 likes  21 points

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mention that section which says amount borrowed from an outsider (stranger)


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