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Hi, Section 73 read with the relevant rule prohibits loans taken from persons other that directors and body corporate subject to certain exceptions. In this regard, my querry is whether the LLP's are included withing the meaning of body corporate u/s 2(11) and on that basis whether the loans taken from LLP is permissible under the CA 2013? Thanks

Section 73- Prohibition on acceptance of deposits from public.

Posted By: Rishav saraf 9 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

Yes, LLP is treated as Body Corporate

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