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Money brought by promoter cum directors of listed public co.

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(Querist)
02 October 2012 Dear Friends,

Pls advice me on following:

Money brought by promoters cum directors of a public listed company to repay loan to bank taken by a listed public company, will it be treated as unsecured loan or deposits?

Urgent reply will serve my purpose.
regards.

Raj
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CA Suresh Jain

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CA Suresh Jain (Expert)
02 October 2012 In my opinion it is a Deposit and Companies (Acceptance of Deposits) Rules, 1975 applies
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
02 October 2012 https://www.caclubindia.com/experts/loan-from-directors-962330.asp#.UGqlmZg3sqM
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CA Lokesh Pokharna

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CA Lokesh Pokharna (Expert)
02 October 2012 https://www.caclubindia.com/forum/accepting-deposits-loans-from-directors-shareholder-187662.asp#.UGqlz5g3sqM

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