Company providing interest free loan from its OD account

CA Rapunzel (Chartered accountant) (172 Points)

21 August 2023

Can a private ltd. company provide interest free loan to other person from its Overdraft Bank account?

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 21 August 2023

No... Company Can't give loan.

CA Rapunzel (Chartered accountant) (172 Points)
Replied 21 August 2023

Can you please quote the section?

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 21 August 2023

Please go through sec 185

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 21 August 2023

Originally posted by : RAJA P M
	Please go through sec 185

with 185(4)

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