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Refund of deposit of rs. 1 lacs u/s 160 of the ca2013

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(Querist)
16 July 2015 How the Company should refund the deposit received u/s 160 of the Companies Act, 2013. whether the Company should refund the same cheque received by the proposer or should take the cheque into its funds and issue a new cheque from Companies Account to the proposer.

Please reply at earliest.

Thanks in advance
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Pratik Shah

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Pratik Shah (Expert)
16 July 2015 Hi, the company can refund same cheque. The Section does not specify anything on this matter.

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