Dear Experts,
Should one intimate to ROC for bringing unsecured loans from directors if so what is the process to intimate the same?
Thanks
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Reg Unsecured loans from directors
Replies (2)
Yes , one should intimate to roc in DPT 3
Section 179(3)(d) of the Companies Act, 2013 which says about the Borrowing, here I m assuming loan from director is covered under Borrowing funds.
As per section 117 which mandate to the company for filing MGT-14 TO ROC read with section 117(3)(g).
File DPT-3 TO ROC, the Borrowing/loan from director is covered under rule 2(c)(viii) exception list i.e NOT DEPOSIT.
This is based on my understanding of provision.
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