Required Board resolution format for loan from directors and other company along with applicable provisions under Companies Act 2013
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loan
borrowings
format
resolution
board
required
Dear Members,
Share the Draft format for Directors Declaration for Loan (not out of borrowed funds) under Companies Act 2013
format
declaration
directors
loan
required
Hello
Can a company give loan to another company having common directors?
Dear All,
Can a company avail an unsecured loan from the Director and use the same fund for repayment of the inter corporate loan ?
loan
intercorporate
repayment
Dear Members,
For Conversion of loan in to equity, since company is not able to repay the loan to directors.
Please let me know whether a Valuation report is required ??
Hello,
What is the procedure of conversion of Loan into Equity share.
share
equity
into
loan
conversion
Hello,
Can the A Company give loan to B Company? Relative of directors of A Company are shareholders in B Company?
Both the Company are Private Companies
loan
Dear all,
Can NBFC give loans to its directors. I have consented for the same. Please advise any contrary views urgently, if any.
Dear all,
Can NBFC give loan to its directors. I have consented for the same. Please advise any contrary views urgently, if any.
Dear All,
If Loan taken from director who is also shareholder in case of private company doe it required to pass board resolution ? or any other compliance is there?
Learned Members,
Please guide the stamp duty and registration fee, if any, in the state of Madhya Pradesh on agreement for Conversion of Loan into Equity under Section 62(3) of the Companies Act and also guide whether Valuation Report will be required or not.
Dear Professionals,
We have converted one partnership firm into the company on December 2021.
Before conversion, they have 2 lakh in the capital account and 50 lakh in the current account.
After conversion 2 lakh became share capital and Rs.50 Lakh treated as unsecured loan from director.
Can we convert above mentioned unsecured loan of 50 lakh (Previously current account) into share capital..?
Because;
In order to convert the loan into share capital, as per provisions of section 62(3) of the Companies Act, the company has taken loan on the terms that the loan will be converted into share capital and such option has been approved by special resolution before taking of loan then in such case subscribed capital can be increased.
It must be noted that it is at most important to pass the special resolution at the time of acceptance of the loan without passing the special resolution; the loan cannot be converted into share capital.
How can we convert the unsecured loan into share capital?
Please guide..
