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Section 58A

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Querist : Anonymous

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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?
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CS Pawan Kumar Baid

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CS Pawan Kumar Baid (Expert)
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".

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CS Pawan Kumar Baid
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