Jiten Gupta (Company Secretary) (1693 Points)
29 February 2012Dear Experts,
Can a Private limtec Company take Loan from anyone??
Can a Pvt Ltd compant give loan to anyone??
pramod yadav
(Company Secretary)
(150 Points)
Replied 01 March 2012
dera jitendra
under section 372A No restrictions to private limited company on giving loans or guarantees to other companies or on making investment in the shares of the other companies.
regards,
Jiten Gupta
(Company Secretary)
(1693 Points)
Replied 01 March 2012
thanks for reply!!!
But here question relates Not with Inter Corporate Loans.
Can a Pvt Ltd company take Loan from any Firm or Individual????
And can the same take place as vice-versa?????
Mamta Batra
(CS)
(376 Points)
Replied 01 March 2012
A pvt. company can accept loan only from its members, directors or their relatives otherwise it would be considered as violation of sec 3 of the companies Act.
Jiten Gupta
(Company Secretary)
(1693 Points)
Replied 01 March 2012
SO YOU MEAN THAT PVT LTD COMPANY CAN NOT TAKE LOAN FROM BANKS????
pramod yadav
(Company Secretary)
(150 Points)
Replied 03 March 2012
A public and private limited company can take loan from other company and body corporate and the same would be covered under section 372A as an inter corporate loan. The above is exempt from the deposit rules, 1975.
A public and private company can also take loan from Banks/PFIs under the same section 372A as an inter corporate loan.
regards,
pramod yadav
(Company Secretary)
(150 Points)
Replied 03 March 2012
A public and private limited company can take loan from other company and body corporate and the same would be covered under section 372A as an inter corporate loan. The above is exempt from the deposit rules, 1975.
A public and private company can also take loan from Banks/PFIs under the same section 372A as an inter corporate loan.
regards,
Hema
(Article Assistant)
(35 Points)
Replied 06 November 2012
Will the provisions of deemed dividend be attracted if one pvt. ltd. co. gives loan to another related (common shareholders) pvt. ltd. co. and the interest has been charged as per the prevailing market rates.
CAclubindia
