Deposits

No..it shall not be considerd as Deposit, if such loan has been given on or after 15th September, 2015.

As per acceptance of deposit rules, read with amendment dated 15 September 2016, A company can accept unsecured loan from director and relative of Director provided such relative or director shall file declaration that funds have been given on personal basis and not from borrowing from third party or bank.

further relative of such Director shall not be the shareholder of the Company.if he is the shareholder of the company , then the aforsaid provisions is not applicable.otherwise it shall be treated as deposits

I do not agree to Jatin Bajaj. Even if relative of director is Shareholder of a Company. an amount received from him will still not be considered as Deposit. 

agree with learned member. As per MCA notification dt 05.06.2015 Pvt comps are exempted from provisions of sec 73 and they can accept deposits from shareholders upto 100% of PSC+F.R  and the company shall file the details of monies so accepted with ROC.

Originally posted by : Pratik Shah
	I do not agree to Jatin Bajaj. Even if relative of director is Shareholder of a Company. an amount received from him will still not be considered as Deposit.