Dear All,
Please let me know the power of company to borrow from a bank which is in not located in the state of its Registered office.
Advanced Thanks for your replies.
CA SRAVANI
sravani (Officer (CA) - FEDERAL BANK) (34 Points)
22 March 2013Dear All,
Please let me know the power of company to borrow from a bank which is in not located in the state of its Registered office.
Advanced Thanks for your replies.
CA SRAVANI
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 25 March 2013
Company can borrow from any bank irrespective of its location. There is no restriction in the Act in this regard.
Thanks
Aditya Soni
(CS Final Student Trainee)
(727 Points)
Replied 25 March 2013
| Originally posted by : P C Agrawal | ||
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Company can borrow from any bank irrespective of its location. There is no restriction in the Act in this regard. Thanks |
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Agree with the learned member.
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