Charusheela Taldeokar (Management Trainee in CS firm_ CS Final) (396 Points)
07 October 2014Dear Friends,
Is it compulsory to file form MGT-14 under Section 179(3)(d) to borrow monies as per CA 2013. and guide me whether unsecured loan and secured loan taken by company comes under this clause.
Thanks,
CS Mitesh Mehta
(Company Secretary)
(17139 Points)
Replied 07 October 2014
Yes.
You have to file MGT 14.
Borrowing includes both Secured as well as unsecured.
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 07 October 2014
Yes....it is required to be filed.....and both unsecured and secured loans are covered under borrowing.....
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