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Partnership

This query is : Resolved 
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(Querist)
19 August 2008 Two different type of Businesses are carried on by same Partners. Can the Loan amt availed for one business can be utilised for other business. If so how it can be done?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
19 August 2008 If the firm is same and the terms and conditions of lender does not prohibit, yes they can.
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Govarthan. P

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Govarthan. P (Querist)
19 August 2008 How it can be done (ie) Whether it can be shown as Investment or Loan given.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
20 August 2008 It is loan.

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