10 November 2010
Hello I want to take a suggestion from the experts on one point. The point is that: the NBFC Co wants to take a loan from a other private Ltd Co other than NBFC then can it take or not? If yes then what will be the documents to be prepared. Kindly suggest. It is Urgent. My second point is that: the co has taken loan from its director which exceeds the paid up capital. Is there any remedy of it. Or the co has to pass some resolution, if yes then send the proforma of the same at the e-mail budhiraja.sanjay@rediffmail.com thanks and regards sanjay
10 November 2010
1) NBFC can take loan from any other company. There is no specific restriction on an NBFC in this regard.
2) Director of an NBFC can give Loan to the NBFC provided it is from his own funds (not borrowed funds). The same would be classified as an exempt deposit.
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