Acceptance of Deposit from Director's Relative
This query is : Open
Prabhakar Latkan
(Querist)
24 May 2017
Please clarify whether company can accept Deposit from Director's Relative like father wife mother if they are shareholders of the company
CS Mitesh Mehta
(Expert)
24 May 2017
Private companies can accept deposits from its members to the extent of 100% of its paid up
capital and free reserves
capital and free reserves
Prabhakar Latkan
(Querist)
24 May 2017
Please clarify whether Limited company can accept Deposit from Director's Relative like father wife mother
CS Mitesh Mehta
(Expert)
24 May 2017
yes. to the extent of 25% of paid up capital and free reserves & Full compliance of Deposit Rules
Prabhakar Latkan
(Querist)
26 May 2017
Thank you CS Mitesh Mehta
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