Dear All,
Please clarify,
A public ltd company is acepting deposits from individuals and trusts.
Can it accept deposits from a private limited company.
If yes what are the documents required from the pvt company and what is the public company suuppose to do.
If no then, some document support for the same.
An early relp will be appreciated.
Thanks
Deposits from Private Limited company would fall under the category of ICD - Inter corporate deposits and are exempt deposits as per the companies (acceptance of deposit) rules.
The company can accept ICD/deposit from private limited company. You need to obtain the following documents when the deposit is given for the first time:
1) Board Resolution - authority details required
2) MOA/AOA
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