Regarding the disclosure of outstanding unsecured loans from external parties other than Directors, promoters, and their relatives, for a private company that has held these loans for several years, could you please clarify the appropriate section in DPT-03 where these loans should be disclosed?
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Can a public company accept loan from Director and relatives ......and will it be a transaction not considered as a deposit for reporting in DPT-3 ???
Pls advice.
Dear All,
there is a confusion that weather Relatives as in companies act includes cousins or doesn't. As it is clearly mentioned that it does includes Step Relatives but any clarity regarding the said is not given.However as the word relative is used in the prescribed section it must include Brother.Kindly Clarify