Can a LLP give a loan to a company in wh
ich LLP holds shares.
Also there is a provision in LLP act which says " the provisions of this act shall be in addition to, and not in derogation of the provisions of any other law fir the time being in force". Does this have any relevance with the with my question. As per my knowledge A company cant accept loan from a LLP as per section 73. Will it applies to LLP also whos is giving loan.
Kindly explain with the relevant statutory provisions.
it should be Ok from my side.
CAclubindia
