Acceptance of deposit u/s 73

I have one query, Plz reply for the same at your earliest...

A private limited company wants to accept deposit U/s 73 of the companies act, 2013. As per companies (acceptance of deposits) Rules, 2014 the Rule 2 (1)(c) defines the deposit as " deposit includes any receipt of money by way of deposit or loan or in any other form, by the company, but does not include the following ....

(xi)   "any non - interest bearing ammount received or held in trust." 

what is the interpretation of the above sentence?,

and as per above sentence if the company can bring non interest bearing amount, then the company cant take  unsecured loan ( non interest bearing) from ousiders or directors at unlimited extent and  

is there no limit of unsecured loan (non interest bearing) from the outsiders or directors?

and also guide me,  that if private limited comapny wants to bring money as an unsecured loan  than what are the other ways for bringing the money in the comany ? as in the companis act 1956 there is no limitation for unsecured loan frommembers,directoersand their relatives but in companis act 2013 there is restriction as per secction 73.

Replies (5)

Eager to know the answer. Just commented so that I could get update via mail.

Me too want the update please.

Pls update the ASAP
As per my view Amount held inTrust means Amount received for some specific purpose to be utilized for specific purpose and any deposit in form of Interest free unsecured loans cannot be treated as Amount held in Trust

agreed with reply of Naveen ji....

what about advances from customers.are those require immediate payment,if the same have exceeded 365 days from the date of receipts..even before 31-3-14

 

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