Pankaj Arora (Learner) (3134 Points)
10 December 2011Dear All
on our directors name we have property in delhi and co. have negative cash flow can company take secured loan by pledging property to bank or we have to first transfer property to company?
CA Sunil Kumar Parjapati
(ACA Senior Manager- Accounts & Finance)
(224 Points)
Replied 10 December 2011
Company has to take ownership of that property first for taking up loan form bank.
Pankaj Arora
(Learner)
(3134 Points)
Replied 10 December 2011
can company no take loan without ownership of that property? Well its for just for my information. bank will pass obiviously loan to property owner means director will get loan by pledging property after that we have to take unsecured loan from direction. Am I right?
CAclubindia
