Unsecured loans recieved from relatives of director
This query is : Resolved
06 January 2015
I read an article in which i saw that a pvt ltd company cannot take unsecured loans from relatives of director.
My query is what will be the impact if company already recieved loan before applicability of Co Act 2013.
My query is what will be the impact if company already recieved loan before applicability of Co Act 2013.
06 January 2015
Under New Company law, loan received by companies (both Public & Private) from shareholders or relatives of director’s will be considered as deposits.
if the private companies have any loan received from any person other than director then they have to file a statement with the Registrar within 31st AUGUST 2014 in Form DPT-4. Such companies shall also repay the dues on or before 31.03.2015 or on due date of repayment, whichever is earlier.
if the private companies have any loan received from any person other than director then they have to file a statement with the Registrar within 31st AUGUST 2014 in Form DPT-4. Such companies shall also repay the dues on or before 31.03.2015 or on due date of repayment, whichever is earlier.
07 January 2015
Will any penal provision attracts if company didn't file DPT-4 and loan is not repaid before 31/03/2015
07 January 2015
Section 73(2) read with Rule 21 of (Acceptance of Deposits) Rules, 2014
The company and every officer of the company who is in default shall be punishable
with fine which may extend to five thousand rupees and where the contravention is a continuing one, with a further fine which
may extend to five hundred rupees for every day after the first day during which the contravention continues.
The company and every officer of the company who is in default shall be punishable
with fine which may extend to five thousand rupees and where the contravention is a continuing one, with a further fine which
may extend to five hundred rupees for every day after the first day during which the contravention continues.
07 January 2015
Thanks for Providing Information
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Depreciation of fixed assets- coop housing society in mumbai
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- TDS Return Q1 FY 2026-27
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Eway bill generation from place other than registeted
- EPF FULL & FINAL RULES IN 2026
- DIN reactivation
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
