A LTD WANTS TO BORROW 50 LAKH FROM NBFC....PLEASE TELL PROVISIONS UNDER 58A UNDER THIS......WHAT NEEDS TO BE DONE BY A LTD PLEASE REPLY ASAP... ITS VRY URGENT !!!
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Sec 58a
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the provision of section 58A are applicable only for Acceptance of Deposits from Public. If any borrowings are requried to be made the provision relating to section 372A Inter-Corporate loans is required to be complied with and not the provison of section 58A.
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