Entry in Register under Section 301 of the Companies Act, 1956

---------- Forwarded message ----------
From: BIPIN ACHARYA <bipinsacharya@gmail.com>
Date: Thu, Jul 22, 2010 at 2:49 PM
Subject: Re: [CharteredSecretaries] Entry in Register under Section 301
To: CharteredSecretaries@yahoogroups.co.in

 

Dear friends,

Loan given to a company  by a member who is a relative of a director of the  company would attract sections 299 and 301 compliances in the given case.

charms,
bipin

On Thu, Jul 22, 2010 at 1:27 PM, csparvinder phalswal <csparvinder.phalswal@gmail.com> wrote:

 

The loan from the member will not make entry in the register under section 301as there is no interest of the director in this case.  On the other hand, loan from the relative of a director will make entry in the register under section 301.

Loan may be unsecured or secured, both are covered under section 301. 

 

On 4/22/10, MONIKA UPPAL <monikauppal22@gmail.com> wrote:

 

Hi Everyone

 

Please advise on the following:

 

X Pvt. Ltd. has taken unsecured loans from a Member Mr. A and a Relative of a Director, Mr. B.

 

Mr. A and Mr. B have given Declarations under Rule 2(b)(ix) of Companies Acceptance Deposit Rules to the company prior to giving loan to the company.

 

Do we need to make an entry in Section 301 Register?

 

Thanks

Monika 

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Regards