Bank overdraft
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 November 2016
can a bank overdraft be taken more than the paid up capital of the company..
KAVIRAJA ADDANGADI
(Expert)
20 November 2016
Bank OD mainly depends on inventory and book debts less than 6 months may be property
Unnikrishnan B
(Expert)
21 November 2016
As for the banker it will provide the OD/CC facility based on the projected turnover .in companies act 2013 section 180 prescribes limit in it but it is apart from the temporary loans.
OD/CC are not long term loans as it has to be renewed every year.
So in my opinion you can avail OD/CC more than your paid up capital
OD/CC are not long term loans as it has to be renewed every year.
So in my opinion you can avail OD/CC more than your paid up capital
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