Loan - Public Company



Hi,

 

Can a public limited company accept unsecured loan from an individual. the loan would bear an interest of 12 pc

 
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MANAGER (FINANCE & ACCOUNTS)

yes company taken the loan form individual but before taken the loan all prosedure must be done


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Hi,

Can u please elaborate on the procedure to be followed....

 
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Article

Hey,

 

Public company can accept it in form of deposits but it should not exceed 10% of aggregate of paid - up capial & free reserves and the interest rate shud not exceed 12.5 % and it has to comply wid Acceptance of Deposits Rules, 1997 (latest Amended)

M attachin it for ur ready go thru it n if u hav ne doubts den do let me know?

 

Regards

Mansi N.Gadoya



Attached File : 26 acceptance of deposits rules.pdf downloaded 128 times

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