Loan given by a private ltd. com

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Employee
133 Points Posted on 22 November 2010

Can a private limited company give loan to public from its own fund ?

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On 22 November 2010 at 10:20 Report
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Trainee
126 Points Posted on 30 November 2010

Hi Sanjay,

As per section 3 of the companies act, 1956 sucha transaction is prohibited.

Rgds, Ronak

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On 30 November 2010 at 15:38
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student-IPCC
704 Points Posted on 30 November 2010

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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On 30 November 2010 at 16:22

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