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Unsecured loans from relatives

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Querist : Anonymous

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Querist : Anonymous (Querist)
18 March 2015 I and one of my friend is having a private limited company, we both are directors in the company. We have taken loan from our relatives. Please let me know whether, we have to repay the loan amount before this 31.03.2015.

Please help
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CS JAY GOHIL

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CS JAY GOHIL (Expert)
19 March 2015 yes you have to repay its compulsary
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
19 March 2015 not compulsory to pay by 31.3.2015 unless the agreement provides a clause for same.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2015 Tushar sir,

If not compulsory,please guide when we have to repay.

Regards
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CS JAY GOHIL

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CS JAY GOHIL (Expert)
29 March 2015 If amount has not been paid it will be treated as deposit . and you have to follow rule of deposit
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