Pls Help

HI,
I want to know that how the company can use there reserves & surplus accumulated during previous years.
I mean if a Co Named XYZ private Limited having 2 Directors named X & Y. The Directors having a share Capital of Rs. 5lac each.Company transfer the profit of each year into the Reserve & Surplus a/c having a balance of (say)8lac.
Now the Director want to use the balance of Rs. 8lac for there own purpose or for company purpose.
Now My question is whether director use these funds same as capital of directors just like partnership firms or there are some other provisions regarding the same.
Directors want some funds from company for personal purpose.

Kindly Help.

Thanks in Advance.

Replies (1)

director can take a loan only from company, reserves are property of company, not of director. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
19 October 2026
Accountant

Jari Saree Center

New Delhi

Others

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
Featured ARTICLESHIP 28 October 2026
CA- Inter and Articles

N N V Satish & Co.,

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
Featured ARTICLESHIP 31 October 2026
CA Articleship

apricus india

Navi Mumbai

CA Inter

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details