Acceptance of deposits from director

Hi, Thsi may be useful for you.

https://www.mca.gov.in/Ministry/pdf/General_Circular_5-2015.pdf

https://www.compliancesupport.in/deposits-under-companies-act-2013/

Yes. As per the said circular of MCA, it was not considered as deposit under the Companies Act, 2013 and therefore it is not a non compliacnes of the Companies Act, 2013 since the amount was accepted from the director under the Companies Act, 1956 which was not used to be conseidered as deposits. However the same was required to be disclosed in the financials statements by th companies concerned.