Hello sir,
While conducting Audit of one LLP we found that LLP give loan to Pvt company but as per company act there is restriction to accept loan from LLP.
So company can do accept the loan from LLP or LLP Gives loan to Pvt company?
Thanks
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Corporate Loan
Replies (1)
If LLP Is shareholder then upto 100% of net worth is exempted ,else if it's a direct loan case without any specific condition which proves otherwise ,you have to qualify the audit ...a violation of deposit regulation if company dont comply with deposit regulations
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