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Unsecured loan & loan and advances

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Article
171 Points Posted on 31 January 2016
Hello friends Can parents do the transaction of unsecured loan or loan advances in the name of minor? please guide
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On 31 January 2016 at 17:04 Report
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Manager Accounts and Finance
916 Points Posted on 31 January 2016

No ., its not possible 

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On 31 January 2016 at 20:16
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Article
171 Points Posted on 31 January 2016
Thanks sir for replying. Is there any make difference if minor do transaction of loan & advance from gifted cash?
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On 31 January 2016 at 20:38
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CA - Final
1367 Points Posted on 01 February 2016
Obtaining loan from a minor is not restricted by companies act. However, a contract with a minor is void as per indian contract act in case of dispute on the loan obtained from a minor
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On 01 February 2016 at 08:14


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