Seeking clarification on Sec.74 of CA 2013 and Filing of Form DPT 4

[K Degaleeswaran]

Sir / Madam,

Seeking your advice for the below issues, please

Query 1.

A Public company is having certain money as loan from shareholders which was originally obtained as loan from partners when it was a partnership firm. Is the Company has to disclose in DPT-4 and need to repay in 1 year (i.e., before 31.03.2015)?

Query 2. 

A wholly owned subsidiary of public company has obtained certain loan from its holding company  and whether that amount has to be disclosed in the  DPT 4 form and need to repay before 31.03.2015.

Thanks in advance!

K Degaleeswaran

[K Degaleeswaran]

[Pracheta]

Sir,

Answer to Query.1: Yeas needs to be disclosed in DPT-1 since for a public company, deposits from shareholders ( who are not directors) has always been considered as Deposits and need to be repaid back within one year

Answer to Query 2: Amount received from a Company is not deposit

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Best Regards,

CS.Pracheta.M

Practising Company Secretary

Ph: 98446 88622

[K Degaleeswaran]

Thank you!