jai gupta (articleship) (52 Points)
17 September 2014Is Section 185 (Loan to Director) also extends to loan given before 12, Sept. 2013 ?
And is there any requirement to put any note in this regard in the balance sheet for the year ended 31,march,2014.
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 17 September 2014
No, it is not applicable to existing loans. No separate disclosure is required for this.
jai gupta
(articleship)
(52 Points)
Replied 17 September 2014
Dear Sir,
Thanx for your valuable comment.
Is there any clarification or circular issued by MCA regarding the same.
CAclubindia
