Sarath Rajendran
(Nil)
(2791 Points)
Replied 23 February 2019
In accordance with Section 73 of the Companies Act, 2013 a private limited company can accept deposits only from its members. Section 73(2)(a) to (e) does not apply to a private company which complies with either of the following conditions:
Sarath Rajendran
(Nil)
(2791 Points)
Replied 23 February 2019
a member is generally defined as (1) the subscriber to a firm's memorandum of association (or articles of incorporation) who is deemed to have agreed to become a member of the firm, and whose name is entered in the firm's register of members when the firm is registered (or incorporated), and (2) every other person who agrees to become a member of the firm and whose name is entered in the firm's register of members. Shareholders who join a firm at its inception are called founder members.
Himanshu
(student)
(50 Points)
Replied 23 February 2019
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)