loan from individuals
This query is : Resolved
25 March 2018
Dear friends
can a Pvt. Ltd company obtain unsecured loans from unrelated third persons (non-corporate ) through bank mode
thanks in advance
26 March 2018
No private Company cannot accept the unsecured loan from individual as it is prohibitted as per the defination of private Company. if Company accepts any unsecured loan from any individual then company has to comply with the provisions of deposit.
However company can accept loan from any other body corporate subject to terms and conditions as stipulated as per the provisions of section 186 on perspective of lender and section 179 on prescriptive of borrower
However company can accept loan from any other body corporate subject to terms and conditions as stipulated as per the provisions of section 186 on perspective of lender and section 179 on prescriptive of borrower
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