the companies (accepatance of deposits) rules 1975
This query is : Open
04 February 2010
Comapny required 3 years audited balance sheet for acceptance of deposit , if company has 1 year audited balance sheet
so can comapny accept deposit form public ??????
so can comapny accept deposit form public ??????
Ankur Garg
(Expert)
05 February 2010
If your co. is only 1 year old than one year Balance sheet will do.
But If your co. is more than 1 year old than one year Balance sheet will not be enough.
For example
One year old co.== One year BS
Two year old co.== Two year BS
Three year old co.== Three year BS
Five year old co.== Last Three year BS
But If your co. is more than 1 year old than one year Balance sheet will not be enough.
For example
One year old co.== One year BS
Two year old co.== Two year BS
Three year old co.== Three year BS
Five year old co.== Last Three year BS
06 February 2010
sir i agree ur views but in rule of acceptance deposit 1975 its in mention that when company invite to public there is some requirments mention in rule 4 of the same. thats company required 3 years bs . if u have any rule or any section which mention that company not required 3 years bs or a newly incorporate company can accept deposit . or any company compleat there 2 years .
sir thanks for ur time
n thanks to reply :)
sir thanks for ur time
n thanks to reply :)
Ankur Garg
(Expert)
06 February 2010
Amir, my reply was based on general practice followed in ROC. Like when we change the name of co. this method is perfectly fine.
However ur concerned is also correct as there may be some different method for deposit application. It would be better to have a chat with ROC people. What say?
However ur concerned is also correct as there may be some different method for deposit application. It would be better to have a chat with ROC people. What say?
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