Loan taken by a pvt ltd co.
This query is : Resolved
24 April 2014
What is the remedy available to A pvt. ltd Co. from B pvt. ltd.(in which directors are common) say on 1st oct. 2013.??
Can it be rectified??if yes then how?
24 April 2014
well penalty should apply. I dont think there is any way out...
other experts may also pitch in...
other experts may also pitch in...
24 April 2014
As the transaction is between two private companies, it is not an issue, only note that the transaction should be approved by the quorum of directors ,other than the interested director at the board meeting.
However under the companies act 2013 no exemption is given for loan transactions bween private companies. Under the new Act the transaction has to approved by the members at general meeting
However under the companies act 2013 no exemption is given for loan transactions bween private companies. Under the new Act the transaction has to approved by the members at general meeting
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
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- Not a CA , can we prepare balance sheet
- TCS ON SOFTWARE SALES
- SHARE TRANSFER PRIVATE LIMITED COMPANY
- Car Purchases in Daughter Name
- Invoicing in different currency
- ITR 6 Schedule CFL and UD Issues
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- 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
- GST RCM not shown in GSTR-3B
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
