Directors loan

[Hema Gaitonde]

Hi, 

What is the best way to deal with directors loan of about Rs. 8 lacs, in voluntary winding up under Sec 248 ?

 It is a small pvt ltd company with accumulated losses and share capital of Rs. 2 lacs. No funds to repay the loan. 

Regards, 

CS Hema Gaitonde

PCS Mumbai

98216 10706

[Rajat Agrawal]

Consider restructuring the loan with an option to convert into equity.

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