Query of income tax

If a pvt limited company has taken an unsecured loan from the director and company want to write back the same.

1)Then would company will be eligible to setoff that income against carry forward business loss as per Income tax act, further under which head of income tax writing back of loan would be taxed ?

2) What would be the tax implications from director's side in his/her individual taxation as per income tax act? 

Thanks in advance