Acceptance of deposit
This query is : Resolved
CA Sandeep Singla
(Querist)
07 February 2015
please clarify anyone
whether receiving security deposit from customers for securing debts amounts to "acceptance of deposit" as per companies act 2013.
if yes whether company will have to repay the same upto 31 march 2015.
08 February 2015
no, as per Rules called "Companies (Acceptance of Deposits) Rules, 2014" the definition of deposit clearly states that any amount received as security deposit for the performance of the contract for supply of goods or provision of services is not covered under the definition
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