Unsecured Loan

hi !

Yes, under the prsent External Commercial Borrowing Policy of RBI, the company can take Unsecured Loan from Foreign Collaborator or Foreign Equity Holders upto USD 500 Million per Financial Year under the Automatic Route subject to the compliance of other terms & conditions laid down under ECB Policy.

As regards the procedure to be followed for ECB you may please read RBI Circulars No. A.P.(DIR Series) Circular No 04 dated 4th August 2007 & A.P.(DIR Series) Circular No. 5 dated 5th August 2005 & Circular No. A.P.(DIR Series) Circular No. 60 dated 21st May 2007 in this regard.

Hi mam,

i got perosnal loan(unsecured) in india.im unalble to repay them  wat happens in worest case i think they wil file case against check bouce .but how can escape from such case one morething right now im in london..for 1year i wont b back to india..so after 1year ill b back will b any prob?..i think u understand my question ok then waiting for ur replay mam..tanxx

1.  What is the mothed of  unsecured loan in the case of company?

2.  What is the mothed of  unsecured loan in the case of Firm or Partnership Firm?

2.  What is the mothed of  secured loan in the case of Firm, Partnership Firm & company?

How to I will treat these entry in books

Will TDS liablity on secured and unsecured loan if applicabe what % and when I will deduct.