Overdue balance of debtors for more than 365 days

Rajat Gattani (Article Assistant) (28 Points)

20 January 2016  

Sir/ Ma'am

I came across this query that whether the overdue balance(Credit) of Debtor for more than 365 days comes under the definition of "Deposit" as per Companies Act, 2013 therby attracting the provisions of Section 73 & 74 of the Act and Also I want to ask that if partial payment has been done earlier and then it is overdue for more than 365 days so in this case will it be considered as Deposit.