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Loan from director

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 August 2011 Please Help. How to disclose the following situation in the accounts of a Pvt ltd company.
Loan From Director: Rs.2 Cr(Loan taken in the personal capacity of director not in the capacity of director)
But, the loan is taken by hypothicating company's property.
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CS Bijoy

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CS Bijoy (Expert)
24 August 2011 In case of hypothetical it will become secured creditor and shown in the liability side of the balance sheet.
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