Refund of deposit of rs. 1 lacs u/s 160 of the ca2013
This query is : Resolved
16 July 2015
How the Company should refund the deposit received u/s 160 of the Companies Act, 2013. whether the Company should refund the same cheque received by the proposer or should take the cheque into its funds and issue a new cheque from Companies Account to the proposer.
Please reply at earliest.
Thanks in advance
Please reply at earliest.
Thanks in advance
16 July 2015
Hi, the company can refund same cheque. The Section does not specify anything on this matter.
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