We know as per Companies Act, 2013 Pvt. Ltd. company can receive loan only from Director and Banks. Please clarify my problem as under:
Mr. A is director of th ABC pvt. Ltd. and also a partner in th firm of XYZ & Co.
During F.Y 2013-14 company received loan from XYZ & Co. The Bank statement of the Company also proved that company received amount from XYZ & Co. As on 31.03.2014 we have disclosed in balance sheet loan received from director intead of loan received from XYZ & Co.
During F.Y 2014-15 the company also received additional money from XYZ 7 Co. and the balance sheet of F.Y. 2014-15 is still pending till date i.e now as on 25.06.2016. ABC company wants to disclosed loan from XYZ & Co. Please clarify the my problem if:-
1. the company wants to disclose loan from XYZ & Co. please also tell me about wheather any penalty for the same.
2. The company wants to disclose loan from director.
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