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Loan - Public Company


Shruti Chawla (CS)     10 September 2010

Shruti Chawla
CS 
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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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CA Navin Jain (MANAGER (FINANCE & ACCOUNTS))     10 September 2010

CA Navin Jain
MANAGER (FINANCE & ACCOUNTS) 
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yes company taken the loan form individual but before taken the loan all prosedure must be done

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Shruti Chawla (CS)     10 September 2010

Shruti Chawla
CS 
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Hi,

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

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Mansi (Article)     10 September 2010

Mansi
Article 
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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: 131 times
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