Receiving deposits by individual

better to form a company and make those persons as ur shareholders. u can take money and invest

Thank you sir,

Can I make Pvt. Ltd Company with my wife?

Yes , Your wife can be another Director.. but  please go through Deposit Rules.

 

 

Loans from Conditions, if any: 1.) Shareholder: Member: Yes, can accept, but subject to the condition specified in deposit Rules 2.) Director/Relatives of Director Yes, can accept, but the director/relative will give a Declaration in writing that money is not given out of borrowed funds and company will disclose it in the Board's report. 3.) Employee Yes, can accept up to the employee’s annual salary ( there should be a contract of employment with the company) in the nature of non- interest bearing security deposit. 4.) Any other Individual Can’t accept because it is prohibited by the definition of Private Company. 5.) Proprietorship Firm ; Can’t accept because it can’t be director, Member or relative of Director. 6.) HUF Can’t accept because it can’t be director, Member or relative of Director. 7.) Partnership Firm Can’t accept because it can’t be director, Member or relative of Director. 8.) Any Company Yes, can accept, but also comply with Sec 179(3) wherein the conditions are specified for the lender 9.) Banks Yes, can accept 10.) Trust Yes, can accept, but loan received should be non- interest bearing. 11.) Outside India Yes, can accept, but subject to the provisions of the Foreign Exchange Management Act, 1999 and rules and regulations made there under. 12.) Govt. organization ( eg. SIDBI) Yes, can accept 13.) Any other Financial Institution which are not incorporated as Banks (eg. Religare, Fullerton, Barclays, Bajaj Finance). Yes, can accept

Thanks Madam, for giving time to write.

From your answer it appears that even if I and my wife creates a pvt. Ltd. Company, the company can not accept deposits at large from peoople.

I shall be thankful if you could suggest the way I may accomplish my moto.

 

Sincerely,

Sunny Saini

 

Thanks Madam, for giving time to write.

From your answer it appears that even if I and my wife creates a pvt. Ltd. Company, the company can not accept deposits at large from peoople.

I shall be thankful if you could suggest the way I may accomplish my moto.

 

Sincerely,

Sunny Saini

 

in pvt ltd co u can have 50 share holders. take money as capital from them. if still its less then form a public ltd co.

Thank you Mr. Naresh