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<\/a><\/p>\nMCA<\/a> UPDATE ON DEPOSITS BY PRIVATE LIMITED COMPANIES<\/a><\/em><\/strong><\/span><\/h2>\nAmounts received by private companies prior to 16t April, 2Ol4 shall not be treated as ‘deposits’ under the Companies Act,2013<\/p>\n
GENERAL CIRCULAR 5\/2015: DATED\u00a030TH MARCH 2015<\/strong><\/span><\/p>\n1.Stakeholders have sought clarifications as to whether amounts received by\u00a0private companies from their members, directors or their relatives prior to 1st April, 2014\u00a0shall be considered as deposits under the Companies Act, 2013 as such amounts were not treated as ‘deposits’ under section 58A of the Companies Act, 1956 and rules made there under.<\/p>\n
2.The matter has been examined in consultation with RBI<\/a> and it is clarified that such amounts received by private companies prior to 16t April, 2Ol4 shall not be treated as ‘deposits’ under the Companies Act,2013 and Companies (Acceptance of Deposits) Rules, 2014 subject to the condition that relevant private company shall disclose, in the notes to its financial statement for the financial year commencing on or after 1st April, 2014 the figure of such amounts and the accounting head in which such amounts have been shown in the financial statement.<\/p>\n3.Any renewal or acceptance of fresh deposits on or after 1st April, 2014 shall, however, be in accordance with the provisions of Companies Act, 20 13 and rules made there under.<\/p>\n
4.This issues with the approval of the competent authority.<\/p>\n
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0singh@carajput.com<\/a>\u00a0or call at 9555555480<\/p>\n","protected":false},"excerpt":{"rendered":" MCA UPDATE ON DEPOSITS BY PRIVATE LIMITED COMPANIES Amounts received by private companies prior to 16t April, 2Ol4 shall not be treated as ‘deposits’ under the Companies Act,2013 GENERAL CIRCULAR 5\/2015: DATED\u00a030TH MARCH 2015 1.Stakeholders have sought clarifications as to whether amounts received by\u00a0private companies from their members, directors or their relatives prior to …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[2834,2833,2832],"class_list":["post-131","post","type-post","status-publish","format-standard","hentry","category-companies-act-roc","tag-approval-of-the-competent-authority","tag-deposit-under-sec-58a-of-companies-act-1956","tag-general-circular-52015"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t
1.Stakeholders have sought clarifications as to whether amounts received by\u00a0private companies from their members, directors or their relatives prior to 1st April, 2014\u00a0shall be considered as deposits under the Companies Act, 2013 as such amounts were not treated as ‘deposits’ under section 58A of the Companies Act, 1956 and rules made there under.<\/p>\n
2.The matter has been examined in consultation with RBI<\/a> and it is clarified that such amounts received by private companies prior to 16t April, 2Ol4 shall not be treated as ‘deposits’ under the Companies Act,2013 and Companies (Acceptance of Deposits) Rules, 2014 subject to the condition that relevant private company shall disclose, in the notes to its financial statement for the financial year commencing on or after 1st April, 2014 the figure of such amounts and the accounting head in which such amounts have been shown in the financial statement.<\/p>\n 3.Any renewal or acceptance of fresh deposits on or after 1st April, 2014 shall, however, be in accordance with the provisions of Companies Act, 20 13 and rules made there under.<\/p>\n 4.This issues with the approval of the competent authority.<\/p>\n The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0singh@carajput.com<\/a>\u00a0or call at 9555555480<\/p>\n","protected":false},"excerpt":{"rendered":" MCA UPDATE ON DEPOSITS BY PRIVATE LIMITED COMPANIES Amounts received by private companies prior to 16t April, 2Ol4 shall not be treated as ‘deposits’ under the Companies Act,2013 GENERAL CIRCULAR 5\/2015: DATED\u00a030TH MARCH 2015 1.Stakeholders have sought clarifications as to whether amounts received by\u00a0private companies from their members, directors or their relatives prior to …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[2834,2833,2832],"class_list":["post-131","post","type-post","status-publish","format-standard","hentry","category-companies-act-roc","tag-approval-of-the-competent-authority","tag-deposit-under-sec-58a-of-companies-act-1956","tag-general-circular-52015"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t<\/p>\n