Dear all,
Can a private limited company accept a interest-free loan from the director?
Hello Professionals
A Company can give loans and guarantees, acquire securities or make investments in another company or body corporate with the consent of the board or shareholders. Such loans given by a company to other companies or body corporates are known as inter-corporate loans. When a company invests in another company, it is known as inter-corporat.
Dear All,
Every director shall disclose his concern or interest by giving a notice in writing in Form MBP-1. Whether such disclosure of interest is required in respect of shares held in any company ? Can an interested director of a private company participate in such meeting where he is interested ?
Dear All,
Will the passage of the Protection of Interest of Depositors in Financial Establishments by the State Governments help in nailing unincorporated entities and companies from unauthorizedly accepting deposits?
Dear All,
NBFCs are charging high interest rates from their borrowers. Is there any ceiling on interest rate charged by the NBFCs to their borrowers?
Hello Professionals!
What do you mean by Expression of Interest under Insolvency and Bankruptcy Code ?
Dear All,
A real estate company has taken advance from its customers on which no interest is payable, will it be treated as deposit as per the Companies Act, 2013.
Dear Friends,
Every director shall disclose his concern or interest by giving a notice in writing in Form MBP-1. Whether such disclosure of interest is required in respect of shares held in any company ? Can an interested director of a private company participate in such meeting where he is interested ?
Hi Everyone!
What is the interest in section 184(2) of the Companies Act, 2013 that has to be disclosed by the director? Is it his shareholding and if so, all his
shareholding or only where it is in excess of 2%?
How many of you have faced this problem of Investors sending FDI money without a 6-pointer KYC?
I have had several cases where in spite of telling the investors to key in 6 pointer KYC in SWIFT, their banks miss it.
In my view, 6 Pointer KYC does not serve any purpose except it creates more confusion as it is a non-standard request. Out of the 6 questions, 3 are already answered in different fields.
What is the view of the members?
Forwarded Query:
We have received FDI in India under an automatic route. 6 pointer kyc was missed while sending these funds; therefore the bank in India has sent a swift 6 pointer kyc request to the remitter's bank again and it is under process.
But at the same time, we keep receiving these disposal instructions from the Indian Bank
Ideally, the bank should have aligned this internally; when funds are awaiting 6 pointer kyc, the bank is not supposed to ask us for disposal instructions.
The company abc is giving intercorporate loan to another company xyz in excess of the limits stated in the section 186 of the companies act 2013.
We need to conduct BM to set a threshold limit and thereafter conduct EGM. Approving the limit in excess of limit specified in section 186 with the consent of members.both the Company has same directors.
1. Now my concern is the ceiling limit of loan is 50 lacs and loan given to company is 20 lacs. Do we need to mention both the amount in mgt 14. Or only the ceiling limit need to be mentioned in Form.
1. Is board resolution sufficient for the loan given to the company amounting 20 lac. Do we need to mention about the loan portions every time we grant loan to the company within the limit I.e. 50 lac.
2. Do we need to file mgt 14 everytime for providing loan within the limit of rs. 50 lac. Or if one time approval from shareholders are sufficient?
3. Board resolution is needed for providing loan and interest rate in parts till the ceiling limit is attained while granting loan
Please clear:-