Unsecured loan
This query is : Resolved
Querist : Anonymous
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
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
24 November 2011
Kindly refer section 372A for inter corporate loans. But this section is not applicable to loan taken from individuals.
RG
RG
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24 November 2011
For the provisions of unsecured loan there is no separate section in the companies act, 1956.
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