Companies Act

Section 58A of the companies act, 1956 deal with the loan taken from the Promoters (indivisual) will be treated as deposit.

in addition section 292 and 293 1 (a) restrcit the power of the board to borrow of the money.

thanks

Sunil

Hi Bharti,

Section 295 deals with loan given to directors by body corporate not by directors

Section 372(A) deals with loan given by one body corporate to other body corporate.

thanks

Sunil

There is no section in the Companies Act, 1956, which deals with loan or guarantee given by director... so there is no restriction in companies act, 1956 about loan or guarantee given by director to the Company.... But it covers in related party transaction and entry should me made in the register u/s 301 of the Companies Act.. Section 299 and 301 deals with that case..

I want To Know:

If a Company is jointly holding shares with an individual as first holder than is it necessary to file Form-22B as per Section 187C for disclosing beneficial interest with ROC.

Form 22B is filed wherein the beneficial interest in the shares is held by someone else then registered holders.

In this case beneficial interest is divided between two share holders

So  Form 22B should be filed declaring the beneficial interest of the company.