If a company accept loan from firm (in which the director is a partner) before the notification dt 15.09.2015 comes into effect. Is it a deposit?
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Loan by pvt. limited company from relatives before 15.09.15
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Notification dt 15.9.2015 mentions about acceptance of loan from relative of a director for a pvt comp is not treated as deposit.
In your case since loan is accepted from the firm where director is a partner it will be treated as deposit.
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