A P Ltd company registered under COA 2013 has advanced ₹5 Lac to one of its Shareholders, who is no part of Management.
No interest is charged on same and advance is overdue for more than an year.
Is there any violation of provisions of CoA 2013 in the above case?
Rohit KC Jain & Co
New Delhi
CA Inter
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My Legal Tax Consultants Pvt. Ltd.
Noida
CA Inter
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Austin Med Solutions Pvt Ltd
Bengaluru
CA
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CCI
Pro
CAclubindia
