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Accepting cash in from of unsecured loan

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(Querist)
18 September 2012 Dear All,

Kindly suggest me which sections are applicable of Companies act if a public limited co. accept cash as a unsecured loan from others. Also suggest the scope of Sec. 58A of the Companies Act 1956.

urgent reply
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
18 September 2012 No, Not Exceeding 20000 from per person.
Otherwise Penalty u/s 269ss of Income Tax Come in Exist.
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pratap singh rathore

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pratap singh rathore (Querist)
19 September 2012 Dear All, Kindly suggest me which sections are applicable of Companies act if a public limited co. accept cash as a unsecured loan from others. Also suggest the scope of Sec. 58A of the Companies Act 1956. urgent reply

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