Deposits & loans

CA Varsha Mishra (Chartered Accountant) (166 Points)

14 March 2017  
Dear Sir/Madam, Whether a Private company can accept any loan or deposit from an individual who is neither a member nor a director? How shall we treat such money received? Shall we treat it as"Deposit" or "Loan"?? If we treat it as Deposit, is it necessary to file forms of such with ROC? If not what will be the penalty imposed?