There is a clear mention about the restrictions on LLP however, my query is regarding whether Listed Company borrow funds from LLP? Please help little urgent
09 May 2020
The Companies Act, 2013 allows a Private Limited company to borrow funds from the following:
1. Directors and their relatives 2. Shareholders/ Members of company 3. Inter- corporate Loan/ Loan from other Company
As per the Rule 1 (c) (vi) of the Companies (Acceptance of Deposits) Rules, 2014, Deposit doesn’t include any amount received by Company from any other Company (Inter corporate Loans) however it doesn’t include LLP and thus a private company is not allowed to take loan from LLP.
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