Loan from Directors
This query is : Resolved
Samar Bhatia
(Querist)
14 November 2009
Hi Everyone
Can u please clarify whether Interest Free Loan from Directors exceeding the total of Paid up capital and free reserves of a company requires special resolution u/s 293(1)(d). As some loans are outside the preview of this section, whether this is covered or this is also not covered.
Thanks
Can u please clarify whether Interest Free Loan from Directors exceeding the total of Paid up capital and free reserves of a company requires special resolution u/s 293(1)(d). As some loans are outside the preview of this section, whether this is covered or this is also not covered.
Thanks
RAJESH SHUKLA
(Expert)
15 November 2009
ineterst free loand can be given only during the year.
CA Ravi Sisodia
(Expert)
15 November 2009
yes, in preview of sec. 293. ordinary Resoluation required.
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