Company can take loan form directors?
This query is : Resolved
29 January 2014
CAN A PVT. LTD. COMPANY CAN TAKE LOAN FROM DIRECTORS?
29 January 2014
Yes. For doing so :
1. Get a letter from the Director that the money has not been borrowed by him for the purpose of lending it to the Company. Otherwise the unsecured loan may be treated as a Deposit.
2.Pass a resolution at a meeting of Board (not by circulation )
1. Get a letter from the Director that the money has not been borrowed by him for the purpose of lending it to the Company. Otherwise the unsecured loan may be treated as a Deposit.
2.Pass a resolution at a meeting of Board (not by circulation )
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
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
