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Unsecured loan & loan and advances
Hello friends
Can parents do the transaction of unsecured loan or loan advances in the name of minor?
please guide
Replies (3)
No ., its not possible
Thanks sir for replying. Is there any make difference if minor do transaction of loan & advance from gifted cash?
Obtaining loan from a minor is not restricted by companies act. However, a contract with a minor is void as per indian contract act in case of dispute on the loan obtained from a minor
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