Deposits and Interest
This query is : Open
05 June 2010
Are there any restrictions on deposits and interest thereon :
1. From Directors in a closely held public ltd. company.
2. From Partners in a Partnership Firm?
Regards,
Rajiv Kaicker
1. From Directors in a closely held public ltd. company.
2. From Partners in a Partnership Firm?
Regards,
Rajiv Kaicker
05 June 2010
1. Loan can be taken from directors only in a public limited company. Interest can be paid as per prevailin market conditions.
2. If loan is taken from partner it will be added to the partners capital a/c and interest allowable is 12% p. a. subject to the mention of the same in the partnership deed.
2. If loan is taken from partner it will be added to the partners capital a/c and interest allowable is 12% p. a. subject to the mention of the same in the partnership deed.
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06 June 2010
What about acceptance of deposits from shareholders and directors in a public company ?
07 June 2010
My question is regarding the ceiling limit on deposits from shareholders and directors in a closely held public company.Are the limits under category I and Category II interchangeable ?
07 June 2010
My question is regarding the ceiling limit on deposits from shareholders and directors in a closely held public company.Are the limits under category I and Category II interchangeable ?
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