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surinder singh bhatia (CS)     19 June 2014

Acceptance of deposit

Dear Friends,

I have few urgent queries with respect to acceptance of deposit.

as per companies act,1956 Pvt Company by its articles restricts acceptance of deposit from public except from its members and Directors and relative of directors but as per defination of Private Company in companies act,2013 such restriction is not there in the defination of private Company

So as per companies act 2013 Can a private company accept deposits, secured Loan, unsecured Loan from HuF, Trust or outside party who is neither a shareholder nor a director by Complying provisions of Companies act2013, if yes then what are those compliances????


 1 Replies


NILA REJESH P (Chartered Accountant)     19 June 2014

No, according to Companies Act.But, if it is taken, there should be appropriate reserves.

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