Non – Applicability of Companies Act, 2013 and Companies (Acceptance of Deposits) Rules, 2014 To Private Limited Companies For Amounts Received From Members, Directors or Relatives Prior To 1st April, 2014

Non – Applicability of Companies Act, 2013 and Companies (Acceptance of Deposits) Rules, 2014 To Private Limited Companies For Amounts Received From Members, Directors or Relatives Prior To 1^st April, 2014.

By

CS K Vinoth AND CS D Hem Senthil Raj

Clarifications are as Follows:

Any amount received by the private companies from their members, Directors or Relative prior to 1^st April, 2014 shall not be treated as ‘Deposits’ under the Companies Act, 2013 and Companies (Acceptance of Deposits) Rules, 2014.

   Subject to Condition:

 Financial Statement of the Company for the financial year commencing on or after 1^st April, 2014 shall disclose the figure of such amounts and accounting head under which such amounts have been shown in the notes separately.

By

CS D Hem Senthil Raj

CS K Vinoth

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