Partnership firm and finance business

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

11 April 2013  

 

HELLO FRIENDS, MY CLIENT HAS STARTED THE FINANCE BUSINESS IN PARTNERSHIP FIRM DURING THE LAST YEAR FOR THE LACK OF CAPITAL THEY HAVE ACCEPTED UN-SECURED LOANS FROM TWO PERSONS WHICH ARE RELATIVES OF PARTNERS.

IS IT OK OR IS IT A VIOLATION OF SEC 45S OF RBI ACT.

PLS. HELP ME.

THANKS.