borrowing by company
Sridhar Narsaiah Kalluri (article assistant) (22 Points)
29 January 2018
from whom a company can take loan and what are the conditions to be fulfilled
1 Replies
Acs Divyam Parbhakar
(Practicing Company Secretary)
(45 Points)
Replied 29 January 2018
Dear Sridhar,
A company can borrow secured loans from Banks or any Financial Institutions u/s 179 and 180 of companies act, 2013 by passing Board Resolution/Special Resolution.
A company can borrow unsecured loan from directors or relative of directors without any limit with a condition that director or relative of director gives an undertaking that the said funds are owned by them and not borrowed from someone.
Thanks and Regards
CS Divyam Parbhakar
Practicing Company Secretary
Divyam Parbhakar & Associates
Mobile No: - 9877620329, 8699630920
Recent Topics
- Income tax calculation formula in excel for fy 202
- Sentinel Glycogen Control Australia
- CREDITNOTE ON GST
- GST INVOICES - NO ACTION - IMS
- Clarity on 26qb filing in case of minor being the
- OLD REGIME AND NEW REGIME.
- TDS deduction on lease internet charges
- Raising invoice by NRI person in Indian INR
- RCM paid under wrong head
- TDS 194 T
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
