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If Company has deposit in pvt company and subsequently private company become wholly owned subsidiary of public company. As Public company is not Eligible company as per section 76(1), what can be done?????
Replies (4)
If it was allowed at the time of accepting deposit, there will be no difference now and no action to be taken if there is no change in terms & conditions.
Sir,
If Private company take loan from its relative of director (shareholders), now what procedure to be followed as it is also included in terms of deposit.???
and in future if this pvt. company become subsidiary of public company then????
inter corporate deposits are outside the meaning of deposits as per 2(1)(c) of deposit rules. ..
loan taken from relative of director is not deposit ...MCA notification 15th September
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