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Company law

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 June 2010 Can we show loans from directors in the books?to what extent?
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Ankur Garg

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Ankur Garg (Expert)
29 June 2010 Loan to the company from director is exempt from the definition of deposits.

So according to me there is no issue if u show the same in BS and there is no limit.

However wait for other expert opinions.

Regards
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CS Richa Sharma

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CS Richa Sharma (Expert)
29 June 2010 under Companies Act in Schedule VI Part 1 - Form of Balance Sheet, it is clearly mentioned that Loans from Directors* and Managers should be shown separately.

*inserted by Notification No. GSR 414,dated 21-03-1961.
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