Private Companies allowed to accept money from relative of directors of the Company also; Companies (Acceptance of Deposits) Second Amendment Rules, 2015

MCA has notified  Companies (Acceptance of Deposits) Second Amendment Rules, 2015 dated 15th September, 2015. Now the private Companies has allowed by the Central government to take money from the relative of the Directors of the Company, Provided at the time of giving the money, a declaration in writing to the effect that the amount is not being given out of funds acquired by him by borrowing or accepting loans or deposits from others and the company shall disclose the details of money so accepted in the Board's report.

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