Sapna ( Rajkot )
20-Dec-2022 03:33 PM
Deposits and loans
Sir please tell me the difference between inter corporate loans and inter corporate deposits , in both one company borrow fund from lending company , then what is diff in both other than sections which are 186 and 73 to 76.
Deposit is taken at the instance and for the benefit of the person depositing the money. Also, in deposit, the deposit is payable on demand of the depositor. In case of a loan, loan is taken at the instance or for the benefit of the person requesting the money. Loan are payable only when the obligation to repay the amount arises, as per the loan agreement.
Answer given by Shubhamm Sir at 02-Jan-2023 05:21 PM