Loan to director
This query is : Resolved
05 June 2015
Dear All,
Kindly clarify that if a private company has given loan to director and his relative at the time when old companies act was there, whether such director and relative have to repay that loan immediately ?
Kindly clarify that if a private company has given loan to director and his relative at the time when old companies act was there, whether such director and relative have to repay that loan immediately ?
05 June 2015
No. Loan given as per Companies Act,1956 (before 12.09.2013) is not covered in the restrictions of Companies Act,2013. But, the same loan should not be renewed or altered.
05 June 2015
Respected Sir,
Whether there is any clarification regarding this or it is interpretation of law ?
Whether there is any clarification regarding this or it is interpretation of law ?
06 June 2015
It is my understanding and not based on any clarification that came to my notice.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- Free lancer income
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
