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Acceptance of deposit from the General Public

Parmod Agarwal (Assistant Manager) (394 Points)

25 July 2011  

Dear Sir,

Can a Public limited company accept the deposit from the general public to file the statement in lieu of advertisement to ROC?


Please reply urgently.




 1 Replies

k. manojkrishna (student) (21 Points)
Replied 25 July 2011

No the public ltd company cannot accept any deposits from the public unless it has been filed a prospectus to the rbi

and the copy of the prospectus of rbi has to be submitted to the roc by specifiying the limit of the amount by helding general body meeting

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