Section 58 A of companies Act
This query is : Open
23 January 2010
Company has been converted from Private limited company to public limited company.
We have certain unsecured loans in private limited company from third parties (parties not related to director or shareholders).
Now what are the implication under section 58 A of companies Act.
Whether any sort of advertisement required or we have to pay back these loana
We have certain unsecured loans in private limited company from third parties (parties not related to director or shareholders).
Now what are the implication under section 58 A of companies Act.
Whether any sort of advertisement required or we have to pay back these loana
28 January 2010
in my opinion, even private ltd. company is not entitled to accept deposits from the third parties . refer sec.3(1)(iii) (d) of The companies act,1956. The defination of Deposit includes any receipt of money by way of deposit or loan.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Tds on commission charges
- GST ITC REVERSE
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Applicability of GST on Salary Reimbursement Component
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- FAST-DS Scheme - Foreign Assets
- Regarding Applicability of Tax Audit u/s 44AB
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- CHECK RELATED
- Dep. as per companies act
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
04 September 2026
Accounts Executive
Hema Yashwanth & Associates
Chennai
B.Com
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
