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pvt co subsidiary of public co can raise money through issuing deposits to public.
A private company 2(68) which is a subsidiary of public company 2(71) is treated as public company according to 2(71) so can such company raise deposits by issuing them to public?
Replies (3)
As the Private Company cannot accepts the deposits from the public as it is restricted by the articles tough it is deemed public Company. However, the eligible public Company who is having turnover of 100 crore rupee or more or net worth of more than 500 crore rupee or more may accept the deposits from public.
so private company cannot raise deposit from public?
NO, private Company cannot raise deposit from the public.
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