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Fund received from overseas

This query is : Resolved 
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(Querist)
15 June 2017 Hi,

Recently, the company where i am working got a deposit from overseas from a friend of the MD. The person who transferred this is an Indian he transferred the amount when he was onsite for a project. This is kind of a loan, What explanation i can give to bank for this remittance ? Please advise,
Thank You.
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Amol S Joglekar

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Amol S Joglekar (Expert)
15 June 2017 you can tell the facts and truth to bank.No any harm
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