One of our Client a Public Ltd accepted deposits from public with out complying with provisions of Law. And now company is asking to do the needful compliances so what are the remedies available to Company now ?
Girish Varma (cs) (26 Points)
01 December 2012One of our Client a Public Ltd accepted deposits from public with out complying with provisions of Law. And now company is asking to do the needful compliances so what are the remedies available to Company now ?
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 01 December 2012
Under section 58A read with Companis (Acceptance of Deposit) Rules, 1975 a company can not invite or accept deposit without giving advertisement or filing statement in lieu of advertisement.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
