Annual Return on Foreign Liabilities and Assets

LOANS BY COMPANY TO DIRECTOR(S)

1. Applicable Statutory Provisions of the Law:

Following Statutory Sections of the Companies Act (including Amendments therein) have been
covered as follows:

2. Loan

Loan is not defined under the Companies Act, 2013. However in normal parlance any transaction
in which money is given with the intention to be returned, with or without interest is loan.


We have listed some parameters to identify and to recognize a transaction as loan or not: