Answer / saju

can not accept; If accepted Section 58A of the Companies
Act will be attracted. As per Companies (Acceptance of
Deposits) Rules 1975, the rules made u/s 58A, a private
company can accept deposits/unsecured loans (only) from
members, directors and directors' relatives, provided a
declaration as per rule 2 (b) (ix) is obtained from them
while accepting such deposit/unsecured loan.

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