Repayment f loan frm director


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
01 May 2013 a pvt co has tkn loan frm itd director nw lt wnt to repay d same bt it dnt hv enough money cn they repay it in any other manner than money.if s pls clrify me

Ankur Garg (Expert)
02 May 2013 Fresh Equity shares can be issued to concerned director against the loan.

In case of fresh allotment of equity shares a board resolution would be required for allotment.

Filing of form 2 with roc would also be required.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
02 May 2013 Thanks sir

Other than alloting shares is there any other option available to company

Ankur Garg (Expert)
02 May 2013 As per my understanding there is no other option which would be considered as a safe and legal one. However you may go for a professional consultancy in this regard.

Thanks

13 June 2013 You take the loan from Bank but this fact for repayment must be brought in the knowledge of the bank. If there are no funds which means that your company is sustaining losses. Banker will also not entertain your loan application so the only option has already been suggested by the expert.


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



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
28 October 2026
Assistant Director/ Associate Director-Finance & Accounting

Krea University

Chennai

CA

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
12 November 2026
Auditor

Oz Taxation

Vijayawada

Graduate (Any)

View Details
Company
10 November 2026
Direct Tax Manager

CAAQ CONSULTANCY PVT LTD

New Delhi

CA Final

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
Featured 29 October 2026
Accounts Executive

Synergy Keystone

Chennai

B.Com

View Details