06 October 2015
As per the act if a company give Loan over and above 60 of Piad up capital + Reserve,its should declare the same in Director Report.
My question is
1) If a company gives loan to a body corporate/individual other then director/share holder by procuring loan from other body corporate not from its own capital.what will be the effect of this section.
2) is it mandatory to file MBP 2....if Loan does not exceed 60% of Capital + reserve?
CAclubindia
