05 September 2010
I AM RUNNING THE INSTITUTE AND THIS INSTITUTE IS REGISTER UNDER SOCIETY ACT WHEN FINALISATION OF THE ACCOUNT MY CAHS IN HAND COMING NEGATIVE . CAN I TAKE A LOAN FROM MY FREINDS WHICH WILL BE BELOW RS. 20000/- FOR EXAMPLE IF I TAKE LOAN FROM RAVI ON 05/09/2010 RS. 15000 ON 07/09/2010 RS. 15000 THEN TOTAL LOAN COMES TO 30000/- IN THIS CASE WILL I BE LIABLE FOR PANELTY UNDER SECTION 269SS. AS PER SECTION 269SS THE LIMIT IS 20000/- AND I AM CROSSING THE LIMIT TO RS. 30000/ AS MENTION ABOVE ?
CAclubindia
