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a. what shall be the status of the aforesaid advances already lying outstanding for more than 365 day as at 31st March, 2014 as the same were not treated as deposits under the erstwhile Companies Act, 1956? b. The Companies (Acceptance of Deposits) Rules and sections 73 to 76 of the Companies Act, 2013 were made effective from 01.04.2014. Does this mean that only the advances from customers received on or after 01.04.2014 shall be treated as deposits if they cross limit of 365 days, and that the advances received prior to 31.03.2014 shall continue to remain subsisting and are not to be treated as deposits even if they are more than 365 days old? c. Does the Company need to file any form or return to the ROC for the advances from customers lying outstanding for more than 365 days as at 31st March, 2014?

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Posted By: Anil 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


Expert    Ankit Singhi

all amounts received before 1st April 2014 which are not deposits under the companies Act 1956 , shall not be treated as deposits under 2014 Act

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