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Q.

What is the corporate code required for providing a loan to a customer in Rajasthan?

I need Corporate code for providing loan to customer

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There’s no specific “corporate code” unique to Rajasthan for giving a loan. Rather, companies providing loans must comply with:

  1. If the lender is a Non-Banking Financial Company (NBFC), it requires a Certificate of Registration (CoR) under Section 45-IA of the RBI Act.

  2. Under Section 186 of the Companies Act, 2013, a company’s total loans, guarantees or investments cannot exceed 60% of its paid-up share capital plus free reserves, or 100% of its free reserves and securities premium (whichever is higher), unless a special resolution is passed.

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