Q. The partnership firm has taken the unsecured loan from the various parties before 9 years and the partnership firm has converted in to Ltd Company (Under Chapter IX) and the same loan has been shown in the Limited Company account and also interest provided on the loan and TDS also Deducted on Interest Credited to the parties and the company has not paid the unsecured loans along with interest to the some of the parties and they are going to file the case against the Company and they are saying that the company has received the loan from them as deposits in that case this transaction will be treated as Deposit u/s 58 A& 58 AA of the Companies Act ,1956 please give me an advice.
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