Loans from shareholder u/s 73 of companies act

This query is : Open

NEHA MAHAJAN (Querist)
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31 July 2017 Dear All,
Dear All
Please advice me on the below query:

As Private company is exempted to take loans from its members upto 100% of paid up share capital and free reserves.
If the ORDINARY RESOLUTION is required under this section. AND if we require to file this resolution to ROC.

Please update me on this.

Thank you

Thank you for the advice

RICHA KUMAR

RICHA KUMAR (Expert)
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02 August 2017 Yes you need to file Mgt_14 to row! It's just an intimation to Registrar of Companies, that you had entered into this type of contract and arrangement