Company Secretary in Practice
173 Points
Joined January 2011
Hi,
apart from the procedure stated herein above by the other experts, please also follow the provisions stated in the proviso to the Rule 2(b)(ix) of The Companies (Acceptance of Deposits) Rules, 1975, which is as under:
"Provided that the director, relative of a director or member, as the case may be, from whom money is received, furnishes to the company at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting from others"
best regards
CS Ashwini Kumar