Unsecrued loan
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2013
Dear Sir,
There is two brothers are partner in a firm. Now one partner want to retire from the firm and wish not to withdraw his capital portion from the firm.
In such condition whether the firm can give him interest considering his capitat as unsecured loan from the date of his retirement.
Please clarify.
It's urgent.
There is two brothers are partner in a firm. Now one partner want to retire from the firm and wish not to withdraw his capital portion from the firm.
In such condition whether the firm can give him interest considering his capitat as unsecured loan from the date of his retirement.
Please clarify.
It's urgent.
18 September 2013
Yes. Dues of outgoing partners can be shown as unsecured loan.
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 September 2013
For this what are the paper formalties are to do and whether the firm can give interest @12%.
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