banner_ad

Public deposit in a private company

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 August 2011 a private company wants loans/funds from public but not on interest.
it has a scheme in which, if a person invest amount in company's any project, company will return his amount after 3 years and pay him some percentage of profit which it earned from that project.
can company do so?
if yes what the procedures?
company is in business of developing residential plot.
Profile Image

CS Bijoy

Profile Image

CS Bijoy (Expert)
29 August 2011 Private companies are restricted to accept deposit from public otherwise the company will be deemed to public company.
Profile Image

CMA Arif Farooqui

Profile Image

CMA Arif Farooqui (Querist)
31 August 2011 if the same company convert into public company (unlisted), then can it accept deposit from public on profit sharing basis?

or

is there any other way through which same company accept deposit from public on profit sharing basic?
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
07 August 2023
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details