Outstanding personal expenses of directors

Sadhana (CS) (181 Points)

24 May 2012  

In our Pvt Ltd Co, two of the directors's travelling expnses was borned by the Company. But now it is decided that this expenes will be treated as their personal expenses. This expenses are outstanding as on 31st march. what are the implications  of this transactions under  under Companeis Act? Are this expenses should be treated as Loan to Directors under the Companies act?