Compsnies Act
Abhishek Selvam O (374 Points)
18 April 2020
Is section 73-76 of companies act 2013'applicable if loan is borrowed by companies as it mentions "Acceptance of deposits".
Abhishek Selvam O (374 Points)
18 April 2020
Vaanie Dangi
(unemployed)
(62 Points)
Replied 19 April 2020
Harish choursiya
(Student cs professional )
(249 Points)
Replied 19 April 2020
As per definition of Deposit as defined under section 2(31) which includes any receipt of money by way of deposit or loan or in any other form by a company, but does not include such categories of amount as mention in rule 2 sub rule 3
In your query loan taken by company from other company seems to be excluded from the ambit of deposit under rule 2(c)(vi).
Hope so this serve your purpose.
Vaanie Dangi
(unemployed)
(62 Points)
Replied 19 April 2020
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