Regarding deposit accepted from shareholder

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 January 2015 if a pvt co accepted deposits from shareholder as per companies act 1956, then whether it is mention as deposit as per section 74 of the companies act 2013 and require to refund till 31.03.2015.

Kindly advice.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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09 January 2015 If loans has been raised from shareholders or directors relative the same will be treated as deposits.

If any deposit or any interest remains unpaid on commencement of this act,every company shall file with ROC a statement in DPT-4 of all deposits accepted & sums remaining unpaid
and company shall repay the dues atleast by 31/03/2015.