Money brought by promoter cum directors of listed public co.
This query is : Resolved
02 October 2012
Dear Friends,
Pls advice me on following:
Money brought by promoters cum directors of a public listed company to repay loan to bank taken by a listed public company, will it be treated as unsecured loan or deposits?
Urgent reply will serve my purpose.
regards.
Raj
Pls advice me on following:
Money brought by promoters cum directors of a public listed company to repay loan to bank taken by a listed public company, will it be treated as unsecured loan or deposits?
Urgent reply will serve my purpose.
regards.
Raj
CA Suresh Jain
(Expert)
02 October 2012
In my opinion it is a Deposit and Companies (Acceptance of Deposits) Rules, 1975 applies
CA Lokesh Pokharna
(Expert)
02 October 2012
https://www.caclubindia.com/experts/loan-from-directors-962330.asp#.UGqlmZg3sqM
CA Lokesh Pokharna
(Expert)
02 October 2012
https://www.caclubindia.com/forum/accepting-deposits-loans-from-directors-shareholder-187662.asp#.UGqlz5g3sqM
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