Whether Security deposits will be covered under section 372A of the companies Act ?
1 Replies
vivek
(CS)
(751 Points)
Replied 20 September 2010
Yes it will be covered undr 372(a), because th explanation of the section goes like this:-
Explanation.—For the purposes of this section,—
(a) "loan" includes debentures or any deposit of money made by one company with another company, not being a banking company;
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