Payment from director's relative

Sec.185 restricts giving of  loans and is not applicable to refund  of  existing loans.  You can refund the loan to third party by cheque/DD based on written request letter and receipt for the amount from  him.  Pl also note to comply with Sec.74 in case the amount was o/s as on 31.3.2014.

Dear Sir,

Thanks for reply but what should be the accounting entries.As there is no connection between the company and third party?...

Regards,

Dip

Debit Director's Son A/c

Credit Bank A/c

Thanks sir

Dear Sir, 

             I have one query regarding Section 185 of Companies Act, 2013. If any company already gave loan to its directors(other than MD and WTD) as per Co's Act, 1956, whether the directors have to pay the loan immediately to the Company. There is no cooling period prescribed under this section and also under the rules. ??????

Hi,

As per my veiw Section 185 is applicable from 12th September,2013....So if any loan given to directors must be repay immediately.The company act not stated any particular period for the same.

Regards,

Dip

Dear Agrawal Sir,

I want to change my companies name.After Name availabilty can I cange all sections of AOA and MOA as per new companies act 2013?...

Regards,

Dipa

Thanks Dipa Mam for your reply.