Clarification regarding the term "Deposit".

    Posted By : Ekta / Published on : 07-Mar-2018 09:59 AM / View : 84 / Comment : 0
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    In terms of Section 73 of Companies Act, 2013 read with Rule 2(1)(c)(vii) of Companies (Terms and conditions of acceptance of Deposit) Rules, 2014, deposits do not include receipt of money from Director of the Company, but the money received from a member is treated as deposit. In case the deposit is taken from a person who is both a director and a member of the Company, will such receipt of money be treated as deposit or not
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