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Take and give loans

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 June 2013 please tell me that a private limited company can take and give loans from individual or huf.

Thanking you
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CS Arpita Rajpurohit

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CS Arpita Rajpurohit (Expert)
03 June 2013 yes but it can take loans from only directors & its relatives. Borrowing from others shall become public borrowing, which a puiblic co. cant.
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CA Kapil Verma

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CA Kapil Verma (Expert)
03 June 2013 Arpita is correct, loan can be received but subject to condition in AOA.
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