Companies (Acceptance of Deposit Rules) 1975

Mayank kharbanda (Risk Advisory Services) (409 Points)

20 August 2010  

Hi, 

One of my clients, a public company is converted from a pvt ltd co. 

When the pvt ltd co was in existence it had accepted unsecured loans from its promoters and as per Acceptance of deposit Rules it is not covered under the definition of deposits.

But now it is a pub co, so I want to ask whether that amount will be counted in deposits or not?? 

Reply ASAP.

Thanks in Advance