Please guide me.
an unlisted limited company having c/f loss of 19 lacs . authorized capital or paid up capital 75 lacs and take unsecured loans from member,director and others individual of rs . 2 crore.. so it is violation of section 58A
furhter limited company has no any secured loans. company require to file lieu of prospectus ? furhter is there any violation of law.. i.e. unsecured loans from others and memebrs.
company can take unsecured loan without filing of prospectus ?
company can take any amount of loans ... furhter company doing business as share broker, portfolio manager.
please reply as soon.