borrowings by private company
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2010
hella sir
I need to know whether a private company, having paid up share capital & Reserves amounting to Rs.6.45 crores, and secured loans amounting to Rs. 7.72 Crores
Now want to borrow money from eight lenders Sum of Rs. 25 Lakhs each.
Total Of Rs. 2 Crores
is this valid and allowed under provisions of act.
please hurry and say yes or no
with reasons
I need to know whether a private company, having paid up share capital & Reserves amounting to Rs.6.45 crores, and secured loans amounting to Rs. 7.72 Crores
Now want to borrow money from eight lenders Sum of Rs. 25 Lakhs each.
Total Of Rs. 2 Crores
is this valid and allowed under provisions of act.
please hurry and say yes or no
with reasons
04 December 2010
yes, it is allowed
Message likes :
1 times
04 December 2010
Yes.
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