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Hi, Please advise whether pvt. company can take loan from the other private company where there is one common director? if yes, pls. advise procedure?

Fund raising

Posted By: Nidhi goel 9 year(s) ago

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


    Abhishek

loan from promoters and relative of promoters is allowed bcz it is exempted from deposits as per deposit rules

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Expert    Ankit Singhi

Not permitted under the law

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    SRINIVASA RAO KOMATINENI

As per Section 185 starting words "Save as otherwise provided in this Act" read with with Section 186(2) permits to take loans from other companies.

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    Nidhi Goel

I know as per section 185 it is not allowed, but is there any way out .

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