Information regarding submission of declaration by director

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tanuja (Querist)
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01 July 2014 my query is that my directors want to file declaration given by them that the amt of unsecured loan is not of out of borrowed funds along with promoters clarification that amt on unsecured loan is condition of term loan borrowed by bank , though it is not required by rules of companies acceptance of deposits 2014, further can I use form GLN -1 for this purpose. its urgent pl give me answer

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 July 2014 1. As per proviso to clause 2(1) (viii) of the Companies (Acceptance of Deposits) Rules,2014 directors have to give a declaration in writing stating that money given to the company is not out of borrowed funds.

2. But for the loan from promoters so as to satisfy the condition of lending financial institution, rule 2(1)(xiii) is silent about the declaration.

tanuja

tanuja (Querist)
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02 July 2014 Thanks sir my query is to which form can be used to upload that declaration given by director. GNL 1 or GNL 2 Pl sir its urgent......

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 July 2014 No need to upload the declaration .

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