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UNDER THE NEW ACT, A PVT LT D COMPANY IS REQUIRED TO REPAY ITS UNSECURED LOANS TAKEN PRIOR TO 01.04.2014. PLEASE CLARIFY, WHETHER DPT 4 HAS TO BE PREPARED & ANNEXED TO GNL-2 & FILED LATEST BY 30.06.2014

Small Company

Posted By: Krishna kumar gaggar 10 year(s) ago

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    LATHA

If the unsecured loans are taken from persons other than directors and outstanding as at the commencement of the CA 2013 ie 1.4.2014, you need to prepare DPT 4 alongwith the list of deposits and auditors certificate and attach the same to GNL-2. The purpose of the form is to seek one years time to repay the deposits pursuant to Sec 74 of the CA 2013. Sec 74(1) states that a company shall make the above application seeking time for repayment within 3 months from the date of commencement or from the date on which such payments are due as the case may be. The time sought for repayment could be 1 year from the commencement of CA 2013 or from the date on which such payments are due whichever is earlier. If you go by the date of commencement, the application has to be made by 30.6.2014

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    LATHA

If the unsecured loans are taken from persons other than directors and outstanding as at the commencement of the CA 2013 ie 1.4.2014, you need to prepare DPT 4 alongwith the list of deposits and auditors certificate and attach the same to GNL-2. The purpose of the form is to seek one years time to repay the deposits pursuant to Sec 74 of the CA 2013.

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