Loan received from doctors

Rule 2(c)(viii) of the Companies (Acceptance of Deposits) Rules, 2014 doesn't take into consideration any amount received from a person who at the time of receipt of the amount by the Company was a director of the Company.

Rule 3(6) of the Companies (Acceptance of Deposits) Rules, 2014 -Rate of interest of deposits/payment of brokerage Rule 3(6) states that no company under sub-section (2) of section 73 or any Eligible company shall invite or accept or renew any deposits in any form, carrying a rate of interest or pay brokerage thereon at a rate exceeding the maximum rate of interest or brokerage prescribed by the Reserve Bank of India for acceptance of deposits by non-banking financial companies.

Since there isn't other provision regarding paying of interest on loan from Directors, the matter isn't yet clear. Lets wait for other replies.

Thanks & Regards,

CS Durgesh Soni