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Loans from directors-pvt co

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Whether Auditor has any reporting obligations in his audit report (CARO)(sec.301 register and sec.297 ) for the loans taken from directors in a private company. pls suggest in this regard of loans taken from directors: thanks in advance to all the members here. 

Replies (1)
If CARO is applicable to the Concerned Private Limited Company, then Auditor has to report under clause (iii) and If the other Party is a PUBLIC Company, then Section 297 is not attracted and also Section 295 is not attracted to a Private Limited Company.


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