Can LLP give Loan to Private Limited Company ?

[ALPESH DHANDHLYA (PCS Ahmedabad)]

Dear Experts,

The Article attached herewith prohibit the above transaction...

However, I didn't find any restriction in the Companies Act, 2013 therefore I request to the Members to give opinion that Can the LLP give Loan to Private Limited Company ?

[CS Suraj Bhardwaj]

As the writer of the article only, 

[CS Alpesh Dhandhlya]

​Did not get you sir ?​

[Kanika sharma]

Please refer page no. 4 in the attached article.

Question: Whether LLP can give Loan to Company under this exemption:

Solution: NO, LLP can’t give loan to Private Limited Company under this Clause. Because this clause cover only Company not Body Corporate.

On Thu, Jul 19, 2018 at 11:24 AM, CS Suraj Bhardwaj <cssuraj...@gmail.com> wrote:

As the writer of the article only, 

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Good day!

Best regards,

CS Kanika Sharma

  

[CS Alpesh Dhandhlya]

​CS Kanika ji,

But I didn't find any restriction in the CA, 2013..... 

​According to me there is no restriction in Companies Act,​

​

[Kanika sharma]

CS Alpesh ji,

In my opinion, LLP is considered as body corporate as defined under section 2(d) of the LLP Act, 2008 apart from the definition mentioned in the Companies Act, 2013. Thus, in section 185 and 186, wherever body corporate mentions it includes LLP too. 

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[CS Alpesh Dhandhlya]

Okay,

Thanking you

[Dinesh Kumar]

what if that LLP is also a Member of the company (xyz pvt ltd), can LLP as member Give Loan to xyz pvt Ltd.?

On Friday, July 20, 2018 at 7:14:07 PM UTC+5:30, ALPESH DHANDHLYA (PCS Ahmedabad) wrote:

Okay,

Thanking you

[Dinesh Kumar]

Dear Alpesh 

After reading this article i have the doubt 

LLP can not give loan to the company, but if the LLP is a Member of the Company then where is the restriction ?

Can a Member(LLP) give loan to pvt company? 

please give opinion, your view are highly solicited.

Regards

Dinesh

[CS Alpesh Dhandhlya]

LLP can't give loan to Company.

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