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Deposits & loans
Dear Sir/Madam,
Whether a Private company can accept any loan or deposit from an individual who is neither a member nor a director? How shall we treat such money received? Shall we treat it as"Deposit" or "Loan"?? If we treat it as Deposit, is it necessary to file forms of such with ROC? If not what will be the penalty imposed?
Replies (2)
not possible .. they will be as Deposits..... deposit includes loan ...2(31)....
pvt companies cannot go for public (non members)
pvt companies cannot go for public (non members)
if these amounts lie with teh company, they will be treated as deposits. And if you have not complied with deposit rules, there is a contravention of law that has happened.
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