Acceptance of deposits
This query is : Resolved
Ashok Jain
(Querist)
28 December 2014
Can Pvt Ltd Co can accepts deposits from its shareholders and its Director as per new company law 2014?
CS Mitesh Mehta
(Expert)
29 December 2014
Private companies can borrow only from directors apart from banks and financial institutions provided the director gives a declaration that the amount that he is giving is not out of borrowed funds.
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