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Acceptance of deposit ( section 58a) (Corporate Law)

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This query is : Open

Author : Anonymous

( Author )
05 May 2012

A private Limited company can accept deposit from its Directors b virtue of clause iii of sub scetion 1 of Section 3 and such deposit is exempted from the provisions of section 58A

If a public Limited Company takes an Unsecured Loan/ Deposit from its Directors will provisions of Section 58A be attracted? If Yes will the company be required to issue an Advertisement in this regard????



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