ABC Ltd a public limited company has recived loan from an HUF. Mr. A is the shareholder as well as member of HUF. Can this be considered as violation of rules of deposits
Menu
Deposits
Replies (2)
this is my opinion : HUF can't be treated as shareholder of company even if Mr.A is member of HUF and Shareholder of company ,Hence company can't accept deposit from HUF
Public Limited Company can accept deposits if the Company has complied with the section 73(2) companies act,2013 rules made thereunder.
hence, if ABC limited has complied with the said provision than it will consider as deposits.
Regards,
CS Harsh Hiren Shah
hence, if ABC limited has complied with the said provision than it will consider as deposits.
Regards,
CS Harsh Hiren Shah
Recent Topic
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
- SALE OF EQUITY ON THE LAST DAY OF THE FY 2024-25 N
- Which ITR form
- Form 103 id delayed for submission for more than 1
- Composition scheme
- Input tax credit under igst under insurance compan
- ITR Form to be used
Related Topics
CAclubindia
