dear friends,
As we know pvt ltd company can borrow or Lend money from its memeber at any time i have some question as follow
1. Is there any time frame by law to return unsecured money to member (without considering a deposit)
2. Is there any upper limit on money can borrow from single member compare to his share
3. does we need to file any formal paper with ROC regarding unsecured loan.
please explain in detail thanks
you can take as much as company required without any time framework
| Originally posted by : CA GAURAV GUPTA ACA, ACS, LL.B | ||
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you can take as much as company required without any time framework |  |
dear sir, do we need to disclose about any unsecure loan taken from any member by the pvt company to ROC or to any other department or just to pass resolution in company ?please explain in detail thanks
No. Specific intimation to ROC or any other deptt. is not required. Noting in the board minutes would be enough.
Thanks
what if the loan amount exceeds the paid up capital?
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