Loans from shareholders

Kindly note provision of Section 73(2) (a) to (e) are not applicable to Private Limited Company pursuant to notifiaction dated June 5 2015 , if  accpected from members monies not exceeding one hundred per cent of aggregate of the paid up share capital and free reserves.

Procedure :

• Call for Board Meeting
• Place before the Board  copy of Resolution of Acceptance of Deposit.
• Approve notice of EGM at BM
• Call for EGM and Pass Ordinary Resolution for acceptance of deposit from the members upto 100% of paid up share capital and free reserve.

Thanks a ton.

Forms to be filed are MGt-14 & DPT-3?