whether the loan taken for personal use from relative are also ban as per banning of unregulated deposit ordinance 2019 ??
if it is allow, is there any limit for loan from relative for personal use ??
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unregulated deposit scheme
Replies (1)
There is no banning and limit for loan taken from relative for personal use.
Also note that this Ordinance is only applicable to person whose business is of taking loan /deposits.
So you are anyways not covered under this Ordinance.
Kindly check my article for further details and clarification. https://www.caclubindia.com/articles/glimpse-on-the-banning-of-unregulated-deposit-schemes-ordinance-2019-35952.asp
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