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Section 58A& 58AA

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13 July 2009 Please guide me on the following:

Where a public Limited company has taken unsecured loans from the some person(other than Shareholder and directors etc.).Whether this loan with in the defination of Deposit under section 58A& 58AA. if yes, What are the formalities, the company has to compile with now

14 July 2009 Hi Varun,

Such transaction by public company shall be treated as Public Deposit under section 58A read with Deposit Rules.

Regards



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