Darshani hundi treatment: specified transactions not treated as borrowal and excluded from applicability of section 69D. The circular clarifies that section 69D does not apply to certain Darshani hundi transactions where the hundi serves for remittance, settlement, or operates under an existing credit facility rather than creating a new debtor-creditor relation: (i) rakhya obtaining a hundi from a drawer in favour of a payee (including where a running/overdraft account exists); (ii) purchaser-seller hundis to pay for goods or settle accounts; and (iii) hundi-book drawals under an indigenous banker's credit facility. Other Darshani hundis require fact-specific examination for borrowal.