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Can a pvt.ltd. company loss set off with directors loan

Ramesh Prasad

Dear All Expert,

ABC pvt. ltd. company have loss ₹ 50,00,000 and Directors loan outstanding ₹ 40,00,000.Can we set off the loss with directors loan and carry forward the loss ₹ 10,00,000 (50,00,000 - 40,00,000).What are related sections of company laws in this regard.

Loss set-off: company losses cannot be applied against director loans, affecting loss carryforward eligibility per advisory reply. Whether a private limited company may apply its trading loss against a director's loan and carry forward the balance is considered; the sole expert reply states that such an adjustment cannot be done and no statutory provisions are cited. (AI Summary)
Corporate Laws / SEBI / LLP
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DR.MARIAPPAN GOVINDARAJAN on Apr 25, 2015

in my view it cannot be done.

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