There is a huge amount outstanding in the Balance Sheet of "A" Pvt. Ltd. as unsecured loan from Directors, relative of directors and from the companies in whihc there is a common directort, but the Company is not in a position to repay that.
I am of the view that these unsecured amount will be treated as Deposit under the Companies Act, 2013 except the loan from Directors. Please suggest the way that we can solve the problem of the Company without repaying the amount with the help of few compliances or what is the last resort to this problem?
Kindly help! Thanks a lot!!
CAclubindia
