Please specify compliances of unsecured loans taken from directors by pvt co.
1 Replies
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 19 May 2015
1) Check borrowing limit of the company u/s 180
2) Take declaration from director that the amount is not being given out of borrowed funds
3) Pass Board resolution in meeting for borrowing
4) File MGT.14 with ROC
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