Clarification on ‘Deposits’ for Private Companies – 31/03/2015

Ministry by General Circular No.05/2015; F.No.1/8/2013-CL-V dated 30/03/2015 has issued circular clarifying that any amount (as unsecured loan or otherwise) accepted by a private company from its members, directors or their relatives prior to 01/04/2014 shall not be treated as ‘Deposits’ under the Companies Act, 2013.

                                                                                                        ………… Read more