what is the maximum permissible interest rate for a loan taken by pvt ltd company from its member?
Adv.ANEESH.MURALEEDHAR (advocate) 13 April 2010
what is the maximum permissible interest rate for a loan taken by pvt ltd company from its member?
A V Vishal (Advocate) 13 April 2010
18%
Adv.ANEESH.MURALEEDHAR (advocate) 13 April 2010
sir. which law prescribes the maximum interest rate? company act or any other specific acts?
N RAMESH. (Advocate Chennai. Formerly Civil Judge. Mobile.09444261613) 14 April 2010
Interest rate always depends on the terms of contract of parties. One can agree to pay interest at the rate of 24% or 36% or more.
There is "Interest Act", "Usuroious money lenders Act", "provisions of CPC" etc which are applicable in certain specified situations. Otherwise, there is no law to prescribe minimum or maximum interest rate.
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