Unsecured loan from director
This query is : Resolved
Pranay Patel
(Querist)
06 June 2014
Dear Members,
Pls suggest on my following query:
A Private Limited company has taken unsecured loan from its Director on 1st June, 2014.
Is there any compliance(s) to be made in this regard with ROC or any other authority.
Please reply
Thanks & Regards
Pranay
Pls suggest on my following query:
A Private Limited company has taken unsecured loan from its Director on 1st June, 2014.
Is there any compliance(s) to be made in this regard with ROC or any other authority.
Please reply
Thanks & Regards
Pranay
CA Gaurav Mittal
(Expert)
06 June 2014
No,
Only a undertaking to be taken from director that loan received is from his own funds and not borrowed funds.
Only a undertaking to be taken from director that loan received is from his own funds and not borrowed funds.
Pranay Patel
(Querist)
06 June 2014
Thanks for the reply Gaurav ji.
Is there any specified format for such undertaking or we can generally draft it.
Would you mind if i ask you to share the format, if you have any.
Regards
Is there any specified format for such undertaking or we can generally draft it.
Would you mind if i ask you to share the format, if you have any.
Regards
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