Can a private limited company give loan to public from its own fund ?
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Loan given by a private ltd. com
Replies (2)
Hi Sanjay,
As per section 3 of the companies act, 1956 sucha transaction is prohibited.
Rgds, Ronak
can you quote the exact section sanjay ji
because as far as i know company cannot have public deposits from public.
If its MOA,s objects clause contain a provision that it can lend loans to public i think it can, is there any provision prohibiting the same.
please let me know
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