Hello,
I want to want to convert a Properietorship into a Private Limited Company. Sole properitor has taken loans from outsider.
Hence what will happen to the outsider's loan if we convert it to private limited company.
As, according to section 58A, Private Company cannot take loans from outsiders. Please give me a way out as my clients needs it urgently.
make him a shareholder
bkoz private limited company can take loan from director, its relatives and shareholders.
| Originally posted by : Mayuri Lal | ||
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make him a shareholder bkoz private limited company can take loan from director, its relatives and shareholders. |
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Agree with Mayuri's view
regards
Santosh Shah
i want to know about difference between ltd company & pvt ltd. company pl. breafly writes us., director or limitation.....urs willwisher
ashok dev
r u asking limitation on number of directors or number of shareholders/ members, pleae make ur question a bit clear
CAclubindia
