Shareholders without interferance
This query is : Open
19 December 2013
Hi
Can a private ltd company get deposit from other then Directors, If not then can they be made only shareholder and not directors and without voting rights or without any interference in working of company and its decision making process.
Plz help.
Can a private ltd company get deposit from other then Directors, If not then can they be made only shareholder and not directors and without voting rights or without any interference in working of company and its decision making process.
Plz help.
19 December 2013
Deposits in case of Private Limited Company
Private Company is prohibited to accept any invitation or acceptance of unsecured loans/deposits from the persons other than its members, directors or their relatives. Therefore a private company can accept deposits through private arrangement from its members, directors and their relatives.
Rule 2(b)(ix) exempt any unsecured loan money received from directors and shareholders from the definition of deposits. According to Rule 2(b)(ix), any amount received from members of a private company limited by guarantee are not exempt.
Rule 3 of Companies (Acceptance of Deposits) Rules, 1975 deal with the limit upto which a company can accept deposits/ loans. Private company exempted this limit.
For any invitation and acceptance of unsecured loan/deposits from relatives of directors and member, the company will have to file a statement in lieu of advertisement in accordance with the provisions of Rule 4A of the Companies (Acceptance of Deposits) Rules, 1975. The company will also have to file annual return of deposits in accordance with Rule 10.
Deposits in case of Private Limited Company
Private Company is prohibited to accept any invitation or acceptance of unsecured loans/deposits from the persons other than its members, directors or their relatives. Therefore a private company can accept deposits through private arrangement from its members, directors and their relatives.
Rule 2(b)(ix) exempt any unsecured loan money received from directors and shareholders from the definition of deposits. According to Rule 2(b)(ix), any amount received from members of a private company limited by guarantee are not exempt.
Rule 3 of Companies (Acceptance of Deposits) Rules, 1975 deal with the limit upto which a company can accept deposits/ loans. Private company exempted this limit.
For any invitation and acceptance of unsecured loan/deposits from relatives of directors and member, the company will have to file a statement in lieu of advertisement in accordance with the provisions of Rule 4A of the Companies (Acceptance of Deposits) Rules, 1975. The company will also have to file annual return of deposits in accordance with Rule 10.
19 December 2013
Thanks Ajay
Please guide me then how to get the deposit and making them member with out interference from them in working of the company affairs.
Please guide me then how to get the deposit and making them member with out interference from them in working of the company affairs.
19 December 2013
You are asking two questions:
Firstly acceptance of deposits, and
secondly making him as members without interference of such members.
So confirm on both questions at your end.
Firstly acceptance of deposits, and
secondly making him as members without interference of such members.
So confirm on both questions at your end.
19 December 2013
i want to know how to accept deposits form a person with out involving him in company affairs. As you have already told me i can not accept deposits from other then member/Shareholder or their relatives.
As the persons who are ready to investment in the company only against Shares.
As the persons who are ready to investment in the company only against Shares.
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