Easy Office
LCI Learning

Loan to director of pvt company roc compliance

This query is : Resolved 

06 November 2018 Sir

Please let me know the process ( ie, meeting, resolutions etc) to give loan to director of Pvt Company, All 3 conditions are satisfied, viz 1 No Body Corporate invested in Share Capital of Pvt Co, 2. No Borrowings from Banks & FI Etc.

Also reply Remarks to be made in Auditors Report if any


07 November 2018 Section 185 of the Companies Act 2013 prohibits company to give Loans to the Directors except to the Managing or Whole time directors as a part of service contracts extended to all its employees.

The provisions of deemed dividend under section 2(22) (e) of Income Tax act may also be applicable.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries