Dear friends,
A private company takes trade security deposits from its purchasers which is not covered under section 73 to 76 of the Companies Act, 2013 and exempted under Rule 2(1)(c) of the Companies (Acceptance of Deposits) Rules, 2014. For the said deposits, it issues Business Deposit Receipts and also pays interest. What specific terms and conditions regarding the exemption can be printed so that it is not interpreted as a Deposit under Section 73 to 76 of the Companies Act, 2013.
Thanks and regards,
Sapna Kannaidas
