Acceptance of fixed deposit by a public ltd.
Querist : Anonymous
Can a Public Ltd. accept a fixed deposit from other than its members(i.e. who is not a member)
If yes, than please justify with references of the provision.
My second query is that if a pvt. ltd. is a member of public ltd.. Can public limited accept deposit u/s 58A
First query is on preference
Guest
Inter corporate deposits are exempt under deposit rules hence section 58 A will not be applicable if pub co accept deposit from pvt co. even if pvt co is not member of public co.
Rule 2 (b) (ix) and Rule 2 (b) (iv) of acceptance of deposit rules 1975 governs the provisions of your query respectively.
Querist : Anonymous
To be specific we are furnishing the advertisement & return vide form 62 with ROC it mean we follow sec.58a, in this situation can we accept the deposit from our members or non-members by differential interest rate
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