unsecuerd loan frm members/directors
Querist : Anonymous
What is status in which when loan taken from members or directors company status is pvt. ltd. then after converted into pub .ltd.????
In above 2 situation how co. law affects what is remedy if there are non compliance????
Else it will fal under 58A for which there prior approval of CG.
For Pvt Company, loan can be taken from Members, Directors and their relative.
If there is conversion to public Company than arrange to repay the loan to the members at earliest to aviod non compliance.
For non compliance, penalty under sec 58A will apply.
Querist : Anonymous
Querist : Anonymous
What is status in which when loan taken from members or directors company status is pvt. ltd. then after converted into pub .ltd.????
In above 2 situation how co. law affects what is remedy if there are non compliance????
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