Related party transactions
This query is : Resolved
06 December 2016
Dear Sir
Whether loan taken/given by company to/from directors are to be recorded in register u/s 189 and whether it will be disclosed in notes to accounts as per As-18.
Whether loan taken/given by company to/from directors are to be recorded in register u/s 189 and whether it will be disclosed in notes to accounts as per As-18.
07 December 2016
According to section 189, every company shall prepare the registers giving seprately the particulars of contracts or arrangements to which section 184(2) or section 188 applies . The above section shall not apply to the the Loan given by the Company to Director or Loan given to Director but the details of such Loan shall be entered under AS 18 , and notes to account of Balance Sheet
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