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Loan by private company to LLP
Can a private company give loan to LLP in which it is partner?
Replies (4)
subject to passing a special resolution, it can be done
Yes after passing a Special Resolution
A private Company can give loan to any body corporate including LLP upto 60 percent of the paid up share capital and the free reserves or 100 percent of the free reserves whichever is higher. Provided that a Company may give Loan higher than the aforesaid limit by passing the special resolution in the general meeting.
But if the partner is the Director of the lending Company, a private Company cannot give loan to its LLP.
OK. Thank you so much
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