Regarding interest on unsecured loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2013
In one of Private Limited Company unsecured loan taken from shareholder and non shareholder. The fund received from both are debt free fund. The now question is that company need to pay interest on the unsecured loan. If the company don't want to pay then company can do so without creating any liability. If it needs to pay compulsory then what are the rate of interest.
Guest
Guest
(Expert)
27 June 2013
Loan can be taken without interest also, interest is not the only criteria for the loan.
But you must have sufficient explanations for such act.
But you must have sufficient explanations for such act.
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