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Urgent query

Pvt ltd 412 views 1 replies

Hi Every one this is Praveen,

                                        Is there any norms or rules or problem will arise if director continuously funding money to private limited company on regualar basis without any interest and now then company will repay back to directors when the company got sufficent fund.

                   

Replies (1)
Hi, In order to exclude it from the definition of deposits, obtain a declaration from the director stating that the money provided is out of his own funds and not borrowed...refer deposits rules..... Further the Company will have to comply with sec 180 of the CA 2013.......


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