Loan from Directors
This query is : Resolved
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
15 November 2009
ineterst free loand can be given only during the year.
15 November 2009
yes, in preview of sec. 293. ordinary Resoluation required.
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