Comment quoting relevant provisions on whether the following amounts received by a company will be considered deposits
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Comment quoting relevant provisions on whether the following amounts received by a company will be considered deposits or not:
(i) ` 5,00,000 raised by Rohit Limited through the issue of non-convertible debentures not constituting a charge on the assets of the company and listed on a recognized stock exchange as per the applicable regulations made by the Securities and Exchange Board of India.
(ii) ` 2,00,000 received by Rishi Limited from its employee Mr. Tarun, who draws an annual salary of ` 1,50,000, as a non-interest bearing security deposit under a contract of employment.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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