Query on Section 372A

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Whether Security deposits will be covered under section 372A of the companies Act ?

Replies (1)

Yes it will be covered undr 372(a), because th explanation of the section goes like this:-

 

Explanation.—For the purposes of this section,—

(a) "loan" includes debentures or any deposit of money made by one company with another company, not being a banking company;            


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