Borrowing from other company
This query is : Resolved
24 November 2013
Sir,
One of my clint is private limited compnay. its wants to take unsecured loan from other private company. can it take the loan. what happen when some directors of other company are same in our company.
One of my clint is private limited compnay. its wants to take unsecured loan from other private company. can it take the loan. what happen when some directors of other company are same in our company.
24 November 2013
Hi Rajni,
Answer to your first Q:
In normal situation, this will be treated as an inter corporate loan and section 372 A of the CA 1956 needs to be taken care. Since 372 A is not applicable to a private limited Company you can very well accept the same.
On your second Q, New Companies Act, 2013 does not allows loan to directors and their interested concerns by a Company.. and thus in your case it is not possible...
Sooraj@9940492568
Answer to your first Q:
In normal situation, this will be treated as an inter corporate loan and section 372 A of the CA 1956 needs to be taken care. Since 372 A is not applicable to a private limited Company you can very well accept the same.
On your second Q, New Companies Act, 2013 does not allows loan to directors and their interested concerns by a Company.. and thus in your case it is not possible...
Sooraj@9940492568
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Disallowance of Section 43B(h) to sez units
- Tax on capital gains revoked us 54f
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
