A company whose paid up capital is 100000 and taken loan of RS 6cr under which 3cr is taken from bank and 3cr from related party transactions so what legal compliances we have to comply with?
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Intercorporate loan
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pass the necessary resolution under section 179 read with section 180. Along with that if related parties are directors then take declaration from directors they have not given loan out of borrowed funds in accordance with deposit rules.
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