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explain section 245
please elaborate in simple words....who are depositors in this section???
Replies (2)
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!
@ himani singh tysm👍👍.... for helping at this crucial exam time
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