09 November 2013
Can a private limited Company advance a loan to the director with a condition of charging interest at the bank rate pursuant to Section 185(b)?
11 November 2013
Sir, but Section 185 is silent about exact detail procedure to be followed for above compliance? i.e whether board resolution require/ how to charge interest on each transaction/how to make repayment.etc. please provide your valuable opinion.
CAclubindia
