Sec-58A
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 January 2011
wheather loan taken from relatives are covered in public deposits or unsecured loans?
01 February 2011
Loan taken from relatives of Directors is not a public deposit. It's an unsecured loan.
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2011
if loan taken from relatives only, is it taken under public deposits or unsecured loans?
02 February 2011
I have already replied. It's an unsecured loan if the loan is from "relatives" of directors. However if the loan is from "relatives" of shareholders, it will be a deposit.
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