Loans and advances to be given by a private limited company

This query is : Resolved

suyampirakasam (Querist)
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31 October 2013 A private limited company desires to giva loans to others for execution of certian projects.The loans are of 7 to 10 years tenure.

Please clarify whether such activity is to be regidtered with RBI under NBFC category.We do not accept deposits.

Ajay Mishra

Ajay Mishra (Expert)
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01 November 2013 Firstly confirm whether the company is financing company or it is given loan to group company.

suyampirakasam

suyampirakasam (Querist)
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01 November 2013 The company is not a finance company;basically it has some other business,engaged in alternative energy resources;however,they prefer to give loans for execution of similar projects to others.

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