Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Section 58A

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

26 November 2009 Can somebody help me with what is the procedure under section 58A deposis not to be invited without issuing an advertisement?? Any application to be made to any government authorities? and if yes, what documents required and how to go about it?

CS Pawan Kumar Baid

CS Pawan Kumar Baid (Expert)
Follow

17 December 2009 Rule 4A of the Companies (Acceptance of Deposit) Rules provides that every company intending to accept deposit without inviting deposit shall file with RoC a statement in lieu of Advertisement containing the same particulars as in case of advertisement and signed in the same manner. Validity period shall also be same.

So prepare and advertisement and dont publish it in newspaper but send it to RoC and it will be called "Statement in lieu of Advertisement".

Regards
CS Pawan Kumar Baid

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now