Companies act 2013 -amendment of sec.185 - loan to director
This query is : Resolved
29 March 2017
This is a request for guidance - We are running a private limited company, which is registered under Delhi ROC. Can you please let me know what are the procedures which we need to follow U/s 185 C.A 2013 for providing loans of Rs.5 Lac to one of our company director.
Our company which satisfies the following conditions:
(a) In company capital no other body corporate has invested any money, i.e., its shareholder does not include any body corporate;
(b) Campany hasn't any liability in terms of any borrowings from banks or financial institutions or any body corporate
Please do let me know your valuable suggestion and guidance.
Our company which satisfies the following conditions:
(a) In company capital no other body corporate has invested any money, i.e., its shareholder does not include any body corporate;
(b) Campany hasn't any liability in terms of any borrowings from banks or financial institutions or any body corporate
Please do let me know your valuable suggestion and guidance.
CS Mitesh Mehta
(Expert)
29 March 2017
Provisions relating to loans to directors is inapplicable to your company.
Message likes :
1 times
29 March 2017
Thank you for your reply sir.
Can you elaborate the content please.
It explicit, we shall not follow any procedure for this?.
Can you elaborate the content please.
It explicit, we shall not follow any procedure for this?.
29 March 2017
Can give. No restrictions. See MCA notification dated 5-6-2015.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Gift to nri relatives residing in usa
- Capital Gains Tax on Inherited Mutual Fund
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
