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    Deposits by a person who is member cum director

    Posted By : Juhee Goyal / Published on : 19-Jun-2023 04:41 AM / View : 248 / 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 money received from a member is treated as deposit. In case 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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