20 March 2015
As per Sec 74 of Companies Act 2013 & Rule 20 of Companies Rules ,2014 If Deposit or any interest remains unpaid on commencement of this Act company
PLEASE REFER MY DPT-4 PDF SHARED FILES IN COMPANIES ACT
YES, LOAN CAN BE TREATED AS DEPOSITS 2) Loan is covered under definition of deposits under Company Act, 2013 read with deposit Rules,2014. 3)Definition of deposits · a) If loan is received from any other company by any Company., it is not covered as deposits. · b) Under New Company law, if loan is received by any company (both Public & Pvt) from directors, it will not be covered as deposits provided director gives a declaration that loan is out of own fund(not by taking loan) . However, if loan is received from shareholders or director’s relative by any Co, these will be covered as deposits. ·c) If loan is received from other individuals by any company (both Public & Pvt), these will be covered as deposits.
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