explain section 245
PRAVESH JAIN (EMPLOYEE) (144 Points)
05 October 2017
please elaborate in simple words....who are depositors in this section???
PRAVESH JAIN (EMPLOYEE) (144 Points)
05 October 2017
Himani Singh
(Chartered Accountant)
(48 Points)
Replied 05 October 2017
Hello,
Depositors under section 245 is a person who has deposited money with the company as per the provisions u/s 73(2) or 76 of the act. Every company accepting deposits from depositors maintains a register of complete information of deposits and depositors.
Deposits here can be money deposited in the form of advance or loan or any other, given to the company.
Thanks!
PRAVESH JAIN
(EMPLOYEE)
(144 Points)
Replied 05 October 2017
CAclubindia
