https://www.icsi.edu/Docs/Webmodules/FAQ_01072014.pdf
It is difficult to digest a few answers given by ICSI. For example, answer to Q.7 says that deposit taken from a director who is also a member will not be exempt from deposit. This does not seem to be intention of law. Rule 2(1)(c)(viii) does not state that it will not apply to a director who is also a member. If this stand is taken by us, even deposit taken from another company who is also a member will also not be exempt from deposits. Similarly, loan taken from promoters as per Bank's stipulation will also not be exempt because promoters may also be shareholders
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