Accepatnce of loan from directors /members
This query is : Resolved
29 June 2015
Dear Experts,
After recent Exemptions and Relaxations to Private Companies from Few Provisions of CA, 2013, can a co accept loan from director without getting declaration that he has not borrowed the fund from others and the fund is his own fund. i.e. declaration is still required?
Early response will be highly appreciated.
thanks.
After recent Exemptions and Relaxations to Private Companies from Few Provisions of CA, 2013, can a co accept loan from director without getting declaration that he has not borrowed the fund from others and the fund is his own fund. i.e. declaration is still required?
Early response will be highly appreciated.
thanks.
29 June 2015
Declaration is still required because amendment is made in section 73(2) and no amendment is made in companies (Acceptance of Deposits) Rules,2014 which contains the stipulation.
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