Section 58A& 58AA
This query is : Resolved
13 July 2009
Please guide me on the following:
Where a public Limited company has taken unsecured loans from the some person(other than Shareholder and directors etc.).Whether this loan with in the defination of Deposit under section 58A& 58AA. if yes, What are the formalities, the company has to compile with now
Where a public Limited company has taken unsecured loans from the some person(other than Shareholder and directors etc.).Whether this loan with in the defination of Deposit under section 58A& 58AA. if yes, What are the formalities, the company has to compile with now
14 July 2009
Hi Varun,
Such transaction by public company shall be treated as Public Deposit under section 58A read with Deposit Rules.
Regards
Such transaction by public company shall be treated as Public Deposit under section 58A read with Deposit Rules.
Regards
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