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Deposits & loans

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Chartered Accountant
166 Points Posted on 14 March 2017
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?
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On 14 March 2017 at 13:43 Report
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Knowledge Seeker
1353 Points Posted on 14 March 2017
not possible .. they will be as Deposits..... deposit includes loan ...2(31)....
pvt companies cannot go for public (non members)
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On 14 March 2017 at 20:55
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Company Secretary
25 Points Posted on 16 March 2017

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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On 16 March 2017 at 18:24


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