Can we use od in another business?

MALATHI.R (ACCOUNTS OFFICER) (25 Points)

02 August 2017  

Dear Sir,

I'm working as an accountant in a private limited company. We have an OD account in our company name for 1 cr. We need urgent fund requirment in our another partnership firm (same directors started a partnership firm). Can we transfer this funds to the partnership firm as a loan? Please help me on this matter.