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Unsecured loan from directors

This query is : Resolved 
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(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.
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Jayashree S Iyer

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Jayashree S Iyer (Expert)
27 September 2011 Yes each transaction need to be entered in the Register of contracts in which directors are interested.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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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