S 269 ss
This query is : Resolved
K.T.Antony
(Querist)
12 April 2019
In the case of a Nidhi Company, deposit can be made in savings account up to Rs.1 lakhs. Is the above section is applicable to a Nidhi Company. If it is applicable it will be very difficult to operate a savings account. What is the remedy for that.
CA PARAS BAFNA
(Expert)
14 April 2019
The remedy is to open a bank account. You can deposit and withdraw by cheques so that question of law can not be raised.
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