Is 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.
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Applicability of section 185 of companies act, 2013
Replies (2)
No, it is not applicable to existing loans. No separate disclosure is required for this.
Dear Sir,
Thanx for your valuable comment.
Is there any clarification or circular issued by MCA regarding the same.
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