URGENT

Yes a public co. (unlisted) can take unsecured loan from non- members and for that purpose you have to pass a board resolution u/s 292(1)(c).

Regards

apart from that the public company would require to comply the provisions of section 58A

Unsecured Loan from will amount to Deposit u/s 58A and you need to comply with sec 58A and applicable regulations. If the non-members is a body corporate, then the unsecured loan can be taken as a Intercorporate Deposit. An intercorporate deposit is exempted from sec 58A.

Regards

CS Malav Shah