As per the provisions of Section 179 of the Companies Act 2013, for borrowing the money, the Company has to pass the Board resolution in the board meeting upto the agegate of the paid up share capital of the Company and the free reserve and securities premium (which are not covered in the defination of deposit). But if exceeds the agregate of the paid up share capital, free reserve and securities premium , company has to pass the special resolution in general meeting as per section 180(1)(c) of the Companies Act 2013.
But provisions of section 180(1)(c) shall not apply to private Company.
But to accept the deposits from the person who are covered under the defination of deposits, provisions of deposit shall apply. DPT 3 needs to be filed