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accepting of deposits
A Ltd. has received rs.5 lakh from its promoters as unsecured loan in pursuance of the stipulation of credit facilities from bank. can the company accepts the unsecured loan ? what would be your answer if the company has repaid in full its amount of credit facilities and after such repayments, company continues this unsecured loan ?
Replies (1)
Yes, if the Promoters are Directors and Relative of Directors.
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