What is a maximum rate of interest at which one public company can give loan to other public company ? Is it 12.50% ( These two companies are not related to each other )
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Intercorporate loans max interest
Replies (3)
As per Section 372A(3) of Companies Act minimum interest at bank rate has been prescribed. There is no maximum ceiling.
ACCEPTANCE OF DEPOSIT RULES APPLIES TO THIS CASE ?
It is not a 'deposit' as per Rule 2(b)(iv) of Companies (Acceptance of Deposits) Rules 1975.
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