Dear All, In case of Pvt Ltd Co can If Borrowings from relatives & Directors exceeds Share Capital & Reserves dose requires any return to be filed with ROC, kindly guide me
Gokul Malpani (Proprietor) (92 Points)
10 May 2010Dear All, In case of Pvt Ltd Co can If Borrowings from relatives & Directors exceeds Share Capital & Reserves dose requires any return to be filed with ROC, kindly guide me
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 10 May 2010
As section 293 is not applicable to a private company so accoding to me nothing is to be filed with ROC where borrowing exceeds the paid up capital and free reserve.
However wait for the opinion of other learned members.
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