Promoter contributions exclusion from deposit definition: blanket exemption refused, government may grant individual exemptions under statute. Promoter contributions constituted by unsecured loans to meet promoters' obligations under financial institution stipulations cannot be accorded a blanket ... Summary
Promoter contributions exclusion from deposit definition: blanket exemption refused, government may grant individual exemptions under statute.
Promoter contributions constituted by unsecured loans to meet promoters' obligations under financial institution stipulations cannot be accorded a blanket exclusion from the deposit definition; the Government may, at its discretion, consider individual case exemptions under section 58A(8).
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