ABC Ltd a public limited company has recived loan from an HUF. Mr. A is the shareholder as well as member of HUF. Can this be considered as violation of rules of deposits
2 Replies
Mohamed Rafi
(9 Points)
Replied 10 August 2017
this is my opinion : HUF can't be treated as shareholder of company even if Mr.A is member of HUF and Shareholder of company ,Hence company can't accept deposit from HUF
hhshah9
(not working)
(32 Points)
Replied 10 August 2017
Public Limited Company can accept deposits if the Company has complied with the section 73(2) companies act,2013 rules made thereunder.
hence, if ABC limited has complied with the said provision than it will consider as deposits.
Regards,
CS Harsh Hiren Shah
hence, if ABC limited has complied with the said provision than it will consider as deposits.
Regards,
CS Harsh Hiren Shah
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