Companies act, 2013
This query is : Resolved
28 November 2017
Whether a Private Limited Company can take unsecured loan from financial Institution and if yes which provisions are required to be complied with ?
28 November 2017
Yes. Section 179 (3) of the Companies Act, 2013
28 November 2017
Thank you very much. I got one advice that if unsecured loan is borrowed it will be treated as deposits, I am confused , pl. clarify whether is it deposits ?
29 November 2017
There is a difference between a loan and a deposit. A deposit includes a loan, but every loan may
not be a deposit. Amount received as loan or financial assistance or facility from banking company/Public Financial Institutions/ Regional Financial Institutions/ Insurance Companies / Scheduled Banks are
not deposits as per the Companies (Acceptance of Deposit) Rules 2014
not be a deposit. Amount received as loan or financial assistance or facility from banking company/Public Financial Institutions/ Regional Financial Institutions/ Insurance Companies / Scheduled Banks are
not deposits as per the Companies (Acceptance of Deposit) Rules 2014
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- Not a CA , can we prepare balance sheet
- TCS ON SOFTWARE SALES
- Is receivable or recoverable same thing
- Bifurcation of prepaid expenses
- What is meaning of cumulative method of interest
- TDS - Form 26QB - Installment - Final payment Query
- ITR 6 Schedule CFL and UD Issues
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
