Raj and Shyam are Partners in a firm having no Partnership Deed. Raj has advanced ₹ 10,000 as a loan to the firm. He claims interest at the usual rate of interest of 12% p.a. as charged by the banks to which Shyam does not agree. State giving reason, which of the two is correct in this case.

Anurag Pathak Changed status to publish April 9, 2023