Limited company -bank account closed

Nandukumar Kamat (Querist) 20 April 2018 This query is : Resolved
Dear Sir,

In Limited company, the bank account closed and the balance amount of cheque issued in director name.
Any violation of law regarding the cheque received in director name after closing the company Bank Account.
Violation of Law as per Section 185 of Companies Act, 2013 – Loan to Directors.
Now cheque received in director name for Rs.3420/- can show as reimbursement of Expenses.

Please advise in above matters

Thanks & Regards
NK

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Asgher Mahdi (Expert) 22 April 2018
Since the returned cheque in favor of the LLC. Director/s are the authorised person to sign the cheque by the Share Agreement.

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