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Acceptance of deposit...!!!

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(Querist)
25 March 2015 If A Ltd. accepts advance from B Ltd. & it is outstanding since 5 years as an advance for the supply of goods. Whether section 74 of Companies Act, 2013 applicable?

Exclusion states
any amount received by a company from any
other company
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
25 March 2015 Inter corporate deposit is not covered in the definition of deposit..

Pls check the definition of deposit as defined under deposit rules.

Accordingly, section 74 has no application
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