Form DPT 4 ( Query on Deposit Defination )

[CABIJENDERKUMAR BANSAL]

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 lacsafter 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.

AI Summary

Clarification Sought on Loans as Deposits Under Companies (Acceptance of Deposits) Rules, 2014 for DPT-4 Filing A query was raised regarding the classification of loans as deposits under the Companies (Acceptance of Deposits) Rules, 2014. Specifically, it questioned whether loans given by an individual before becoming a director, and subsequent transactions after becoming a director, should be considered deposits for filing Form DPT-4. Two scenarios were presented: one where a loan was given before directorship and remained outstanding, and another where partial repayment and additional loans occurred after the individual became a director. The response sought clarification on whether the issue was resolved.