AS 18

It attracts As-18 relationship at anypoint of time during the year.Disclosure necessary

Thanks for your reply 

any case law or section tat you can quote reg dis

no case law or section  refer AS-18  which is a disclosure AS

So it means a disclosure to be made in Notes with the amount of loan rite?

u are rite

Related party transaction is to be disclosed only when following conditions are satisfied at the time of transaction

(1) Related party relationship

(2) Related party transaction

So if the loan was given before resignation then it needs to be disclosed.

disclosure necessary only if relationship exist on date of receipt of loan , year is irrelevant