Can a section 25 Company accept unsecured loans from its shareholders
If Not can it accept unsecured loans from from the books of their associate companies / firms
Kindly advise
Dhruv
(Chartered Accountant)
(308 Points)
Replied 19 April 2010
As far as I am aware, section 25 companies can take unsecured loans from anyone, there is no restriction, the restriction only exists for public companies.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
