AOC 2

[LUCKY MITTAL]

Hi can anyone tell me is the unsecured loan from kmp will be require AOC 2 

[Gopal Rathnam]

Form AOC-2 discloses particulars of contracts or arrangements with related parties under Section 188 of the Companies Act, 2013, specifically for transactions like sale/purchase of goods, leasing, or appointments to office of profit. Loans from directors or KMP fall outside Section 188 scope, as they are governed by deposit rules (exempted via declaration) or Section 185 (loans to directors), not requiring AOC-2 attachment to the Board's Report.​

Disclosure Alternatives- Such loans must be reported as exempted deposits in e-Form DPT-3, disclosed in Board’s Report notes and financial statements per AS 18/Ind AS 24, with a written declaration from the KMP that funds are not borrowed. Remuneration to KMP is similarly excluded from AOC-2 unless involving office of profit.

GOPALRATHNAM-9886618696