Unsecured loan from directors
This query is : Resolved
Preeti Goyal
(Querist)
25 September 2011
is it required to enter the unsecured loan received from directors in register manintained under section 301. as the loan amount changed by time to time, what will be procedure for entering the same.
Jayashree S Iyer
(Expert)
27 September 2011
Yes each transaction need to be entered in the Register of contracts in which directors are interested.
07 October 2011
You have to maintain separate register for 301 and other sections and accordingly all transactions are to be recorded therein
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