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deposit

Aditi (Student) (389 Points)

30 May 2018

circular in the form of advertisement is required only in case of eligible public co. inviting deposit from public.?

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CA Sunil Kumar (Chartered Accountant) (4519 Points)
Replied 30 May 2018

Every company irrespective of its form whether Public private or eligible company who is intending to invite deposits must have to comply with the provision of section 73(2) (a) to (e) otherwise company shall be in default and penalty under section 74(3) will be imposed.

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Aditi (Student) (389 Points)
Replied 30 May 2018

in case of section 73 , (accepting deposits frm members) it is that circular in form of ad is optional , but in 76(deposit from public) instead or circular circular in frm of ad is mandatory