Can a pvt ltd company take loans from public.

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21 Points Posted on 08 December 2017

Hi,

We are looking to seek loans from 100 individuals (10,000 rs @ 2% pm interest) for a tenure of 1 year. 

Is this doable as per companies act or is a sole propritership model more suitable to take loans from individuals.

Thanks in advance for valuable advice.

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On 08 December 2017 at 07:27 Report
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Student CA Final
6489 Points Posted on 08 December 2017
Private limited company is being prohibited from accepting deposits from public by its definition and section 73 of companies act
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On 08 December 2017 at 08:10

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