Can private ltd co. accept deposit from partnership firm
This query is : Resolved
12 February 2018
Dear Members,
A Partnership Firm is a beneficial owner of shares of a Private Limited Co. in pursuance of section 89 of the Companies Act, 2013. Now, such Company wants to accept deposit from partnership firm.
As far as i concerned, a Co. can not accept deposit from Partnership Firm even if it is a beneficial owner of shares of such Company, because Section 2(55) does not cover the term beneficial owner.
Please clarify.
A Partnership Firm is a beneficial owner of shares of a Private Limited Co. in pursuance of section 89 of the Companies Act, 2013. Now, such Company wants to accept deposit from partnership firm.
As far as i concerned, a Co. can not accept deposit from Partnership Firm even if it is a beneficial owner of shares of such Company, because Section 2(55) does not cover the term beneficial owner.
Please clarify.
12 February 2018
No they cannot accept the deposits from the partnership firm even if they are beneficial owner of shares
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