Hi
NBFC main business is giving loan. Can it give loan to its auditor???
Plz guide
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NBFC loan to its Auditor
Replies (8)
Yes it can give provided it is at arms length
141(3)(d)(ii)person who, or his relative or partner is indebted to the company, or its subsidiary, or its holding or associate company or a subsidiary of such holding company, in excess of such amount >5 Lacs(sub rule 2 of rule 10 of CH- X)
isn't it?....
ofcourse it is in the course of business!...
hmmm??!!...
waiting for reply!
isn't it?....
ofcourse it is in the course of business!...
hmmm??!!...
waiting for reply!
Please do not speak alone of cos act requirements. Even RBI act has to be taken for. consideration.
I see😐😐(i don't know),Do RBI act talk about this?(I wonder).....oh,please don't take it serious of mentioning the sections,subsections bla bla😅😅😅...
Plz check the RBI act and then talk bla bla bla
that's rude😕😕😕
Hey nothing like that bro it was just a reply
Being a NBFC it must comply with the Companies Act, hence Auditor can't get loan from NBFC, which effect on independence of Auditor, that is wat section 141(3)(d)(ii) says
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