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Public deposit

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(Querist)
20 November 2012 Is Amount taken as Demand Promisory Note covered under the defination of the Public as per Sec.58A of the Companies Act,1956.
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
21 November 2012 no company shall accept or renew any deposit which is repayable on demand or on notice or after a period of less than six months or more than thirty six months from the date of acceptance or renewal of such deposit.
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
21 November 2012 Refer Rule 2(b) of Companies (Acceptance of Deposit) Rules, 1975 for the definition of Deposits...
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