Deposits accepted by private companies become subject to deposit regulation upon deeming, repayable as per original acceptance terms. When a private limited company is deemed a public company, amounts accepted from shareholders that thereby qualify as deposits fall within the Acceptance of Deposits Rules; repayment of such amounts is to be made in accordance with the terms on which they were originally accepted.
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Provisions expressly mentioned in the judgment/order text.
Deposits accepted by private companies become subject to deposit regulation upon deeming, repayable as per original acceptance terms.
When a private limited company is deemed a public company, amounts accepted from shareholders that thereby qualify as deposits fall within the Acceptance of Deposits Rules; repayment of such amounts is to be made in accordance with the terms on which they were originally accepted.
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