banner_ad

Loan given to husband of director's sister in caro report

Statutory Audit 1083 views 2 replies

Dear

My Company has given Loan to xyz co. whose director is husband of my director's sister

Now let me know please whether I have to disclose the name of xyz co. in Caro Report (Audit Report) where we have to disclose the details of loan taken / given as per u/s 301.

some one please help me out

thanks

Replies (2)

you have to discose the name

Definition of relative is defined in Sec 6 and Schedule !A to the Companies Act, 1956.

As per Schedule 1A, sister's husband is also relative.

Now, reading Sec 299 :

"Every director of a company who is in any way, whether directly or indirectly, concerned or interested in a contract or arrangement......................."

Hence, the loan given by your company to XYZ Co is also covered.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details