amount borrowed by private company
Srinu (Study) (21 Points)
21 July 2019
is private company borrow funds from a stranger (out siders)
3 Replies
Kunal Mittal
(FINANCE OFFICER)
(580 Points)
Replied 21 July 2019
Yes, why not. A private company can do it.
Jatin Bajaj
(CS)
(2930 Points)
Replied 22 July 2019
A private Company cannot accept the deposit from the third party or the stranger as it would fall under the definition of deposit as per section 2(31) of the Companies Act 2013. But a private Company can accept the deposit from the other companies subject to the compliance of section 180 of the Companies Act 2013
Srinu
(Study)
(21 Points)
Replied 30 July 2019
mention that section which says amount borrowed from an outsider (stranger)
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