Money withdrwn from compny

This query is : Resolved

pawan goyal (Querist)
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17 July 2014 one Company and Proprietorship Firm
director and proprietor are same person
he want to withdrew money from company
please suggest me how is made for transaction

Ankur Garg

Ankur Garg (Expert)
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17 July 2014 This will be treated as Loan to Director which is prohibited under section 185 of Companies Act, 2013. This section is applicable on both public and private companies.

Please take note of the same. So avoid this transaction.

Thanks

pawan goyal

pawan goyal (Querist)
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17 July 2014 but he want to withdrew money in the company so please suggest any other way that transaction is possible?

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