What are the regulations applicable on non-deposit accepting NBFCs with asset size of less than ? 500 crore?
If section 8 company accepts foreign funding then what compliance needs to follow please guide....
We need to do FCRA registration and file annual return fc-4 every year as per FCRA, 2010
Apart from that what needs to comply please guide me..
Anything as per fema Act?
If a private limited company accepted an unsecured Loan in 2019 from a person who is not a shareholder/director/relative then what would be the possible consequences of the same?
If the deposit accepting by the company from Director and members is less than 35% and the company satisfying the condition as mentioned in the exemption notification dated 13th June 2017.(Notification is attached for your reference) then Chapter V Clauses (a) to (e) of sub section (2) of Section 71 shall not apply to the private company.
So if the conditions has fulfilled then company needs to pass only ordinary resolution and file with MGT-14 only, no need to issue a circular and file in GNL-2...
The case is somewhat like this: 1. The Directors gave a loan to the company in an unsecured manner- 2. company bought property in its own name and in the balance sheet the loan stood as an unsecured loan from directors. 3. now the company is willing to transfer the property in the name of the directors and a corresponding effect is to write off the amount of loan to the tune of the value of the property, let suppose the value is Rs. 10/- and loan standing is Rs. 15 then Rs. 5/- be left as unsecured loan amount and property be transferred. Thanks for the valuable suggestion Curtsy: Ashutosh SharmaClick here to view / answer Share it on
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