How to write off unpayable unsecured loan, if any?
How to pay unsecured loan without any bank a/c?
1 Replies
Kolluru Krishna Murty
(Partner)
(315 Points)
Replied 04 April 2012
If it is a company necessary resolution is required to be taken at the BOD or AGM depending on the interest of the Director or other wise for writ-off of USL.
Normally no payment of loan should be duscharged by cash and it should be atleast by an A/C payee Demand Draft if cheque is not possible.
kkm
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