Deposits under section 73
This query is : Resolved
Arpit Jain
(Querist)
02 March 2015
Can a Company take deposit from shareholders according to section 73 for this reason that Any amount brought in by the promoters themselves or their
relatives by way of unsecured loan in pursuance of a stipulation of
any lending institution on the promoters. Such exemption shall be
available only till the loans of the Financial Institutions are not
repaid and not thereafter.
relatives by way of unsecured loan in pursuance of a stipulation of
any lending institution on the promoters. Such exemption shall be
available only till the loans of the Financial Institutions are not
repaid and not thereafter.
CS Divesh Goyal
(Expert)
03 March 2015
dear arpit in stipulation of any lending agreement . Promoter have to took moneh in company from any spurce.
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