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Deposits taken from members after enactment of the Companies Act 2013

Posted By : ARUN GANDHI / Published on : 01-Aug-2022 05:05 AM / View : 434 / Comments : 0

Dear Members,

Amounts received by private companies from their members,
directors or their relatives were not treated as 'deposits' under section
58A of the Companies Act, 1956.

What shall be the status of the amounts received prior to 1st April 2014 as
regards treating them as deposits?
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