Can a pvt ltd company take loans from public.

Pvt ltd 227 views 1 replies

1 Points Joined December 2017

Hi,

We are looking to seek loans from 100 individuals (10,000 rs @ 2% pm interest) for a tenure of 1 year.

Is this doable as per companies act or is a sole propritership model more suitable to take loans from individuals.

Thanks in advance for valuable advice.

Replies (1)

Student CA Final

11857 Points Joined May 2015

Private limited company is being prohibited from accepting deposits from public by its definition and section 73 of companies act

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