Pankaj Arora (Learner) (3134 Points)
10 December 2011
Can private company accept loan from another private limited company what should be the procedure for accepting loan from another private company should we have to inform for it to roc?
Second question if we took loan in September from financial institution of rs. 1.50 crore . should we have to pass any resolution for it or also tell me if we take loan from financial institution so we have to inform roc?
nidhigoel89
(Company Secretary )
(594 Points)
Replied 10 December 2011
Hello,
Yes a private company accepts loan from other private company, as sec 372A deals with its (Not applicable to Pvt. Co.).
Secondely a resolution is required when u r going to take loan as per sec 292
If you take loan from financial instituion then its needs to be inform to ROC IF THAT LOAN IS CREATIG CHARGE OVER THE ASSETS OF THE COMPANY. Otherwise intimation to ROC is not require.
Thanks!
Regards
Nidhi
Pankaj Arora
(Learner)
(3134 Points)
Replied 10 December 2011
thanks nidhi
could you also tell me what is the exact meaning of IF THAT LOAN IS CREATIG CHARGE OVER THE ASSETS OF THE COMPANY?
nidhigoel89
(Company Secretary )
(594 Points)
Replied 10 December 2011
Hello,
It means when company is approaching Bank for loan then they generally ask for some security to be pledge which creates a charge over the companies assets.
So, in that case u need to file form 8 to ROC, for further details refer sec 124 and 125 of Co, Act
Regards
Nidhi
Pankaj Arora
(Learner)
(3134 Points)
Replied 10 December 2011
but if company don’t filled form 8 to roc than is company liable for any penalty ?
nidhigoel89
(Company Secretary )
(594 Points)
Replied 10 December 2011
Pl. consider the given section u will get the detailed information.....
Regards
Nidhi
ranganath
(CS)
(12 Points)
Replied 09 June 2012
Dear All
Can a private limited company borrow by way of a loan (unsecured) from public limited company. What are the steps to followed apart passing resolution, like filing with ROC, maintenance of register, etc.
Thanks in advance
ranganath
(CS)
(12 Points)
Replied 09 June 2012
Dear All
Can a private limited company borrow by way of a loan (unsecured) from public limited company. What are the steps to followed apart passing resolution, like filing with ROC, maintenance of register, etc.
Thanks in advance
CAclubindia
