Loan from director
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2011
Please Help. How to disclose the following situation in the accounts of a Pvt ltd company.
Loan From Director: Rs.2 Cr(Loan taken in the personal capacity of director not in the capacity of director)
But, the loan is taken by hypothicating company's property.
Loan From Director: Rs.2 Cr(Loan taken in the personal capacity of director not in the capacity of director)
But, the loan is taken by hypothicating company's property.
24 August 2011
In case of hypothetical it will become secured creditor and shown in the liability side of the balance sheet.
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