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Unsecured loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 November 2011 hi,

my co. is a limited co. my balancesheet shows unsecured loans as follows:
from corporate bodies 67063970
from directors &
shareholders 4051783
total 71115753
pls my query is hw should i check that the unsecured loan amt is within the prescribed limit & which sections are applicable to check this....

pls reply its urgent..

thanks

regards

tanveer ahuja
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RG - A Helping Hand

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RG - A Helping Hand (Expert)
24 November 2011 Kindly refer section 372A for inter corporate loans. But this section is not applicable to loan taken from individuals.

RG
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RG - A Helping Hand

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RG - A Helping Hand (Expert)
24 November 2011 For the provisions of unsecured loan there is no separate section in the companies act, 1956.
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