Cash accounting in pvt. ltd co.

There is a provision to take a loan from directly in pvt ltd company. There is no need to return at the time of closure of accounting books. Treat it as loan from director. Please note these all tranction should be made through bank payment. Cash transaction is disallowed. Director can claim the interest on the same amount but it is not madator to pay the interest. 

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u/s 188 (1)(d) of the companies act 2013 it is a related party transaction.

u/s 188(2) it is required to be disclosed in Board's Report.

As per proviso to rule 2(1)(c)(viii) of Companies (Acceptance of deposit) Rules 2014, compny is required to obtain a declaration form the related director that the amount is not being given out of funds acquired by borrowing or accepting loan or deposit from others.