02 November 2013
One doubt...suppose a ABC pvt ltd co also have their directors as a partners in a XYZ ENTERPRISES.. And abc co has has borrowed loan from bank... And the said loan is given to firm... Bank charges 18% interest ...and abc co charges 18% of interest to d firm..
does sec 2(22)e will be applicable to the firm??
and f
if so how to tackle it??
can company repay the loan of director if any and futher director will introducted funds in firm wil b alternative or if there is no loan.. how to provide funds to firm ....
firm cannot apply for loans due to firm has excess debt equity ratio...
please tell me does sec 2(22)e will apply and if.. how to tackle it