SmileIndia.com
Title
SmileIndia
Description
S.58A of Companies Act, 1956 has put restrictions on acceptance of deposits by any company subject to rules being prescribed. Accordingly, Companies (Acceptance of Deposits) Rules, 1975 were prescribed which lay down various regulations and procedures for acceptance of deposits by companies. The important provisions of the Rules are summarised as under :
Deposit means deposit of money and includes any amount borrowed by a company, but does not include certain types of borrowings; viz. amount received :
from various Govt or semi-Govt financial Cos. or Corporation/insurance Cos. or a Public financial institution as may be notified by the CG.
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- +001.910.402.4678
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