availing loan by a company

It is depend on the companies prospectus and business.  ONly on the basis of question asked, answer cannot be given.

its depend on contrace's condition. and you can take advice of you company lawyer

Thats right. But the problem is something different.  can a company give 150% interest for a loan in a financial year.
 

By asking 50% profit in the project the lender will become a joint venturist of the project not a mere lender of money on loan.  And why not?  A company can enter into joint venture or take a venture capitalist to accomplish the project and a separate set of adhoc terms and conditions are to be drafted in MoU and can be done.  The company only needs a resolution passed by the board of directors to enter into a joint venture or accept a venture capitalist of accomplishing that particular project. 

A Investor i.e. Shareholder is entitled to have such dividend as reccommend by the Board and approved by the shareholders in AGM by ordinary resolution. under the scheme of the Companies Act there is nothing that shareholder can have particular part of profit. Joint venture is different concept. A company and other lender can have a Joint venture for particular project and can settle terms including share of profit.

Suresh