Dpt 4 (query on deposit definiaton )

CA. BIJENDER KR. BANSAL (ACA, B.COM) (8148 Points)

27 June 2014  

Please suggest:

 

As per Companies (Acceptance of Deposits) Rules, 2014.

 

"deposit" includes any receipt of money by way of deposit or loan or in any other form, by a company, but does not include--

 

point no. (viii)-- any amount received from a person who, at the time of the receipt of the amount, was a director of the company:

 

Query 1: for e.g. x was not a director as on 15.04.2012 give loan of Rs. 10 lacs to company xyz. after that he became director on 15.07.2013 and was a director on 01.04.2014, will this loan of Rs. 10 lacs be covered under deposit or not for filing DPT-4??

 

Query 2: for e.g. x was not a director as on 15.04.2012 give loan of Rs. 10 lacs to company xyz,

after that he became director on 15.07.2013,

after that on 20.08.2013 company repay loan of Rs. 3 lacs to X, closing balance is Rs. 7 lacs

after that x gives further loan of Rs. 6 lacs on 30.09.2013, closing balance Rs. 13 lacs,

what amount of closing balance as on 01.04.2014 of Rs. 13 lacs be covered under deposit for filing DPT-4??

 

Thanks a lot in advance for your valuable time.