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
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
ARTICLESHIP 16 September 2026
Article Assistant

MANUJ SHARMA AND COMPANY

Noida

CA Inter

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details