Comment if the following transactions entered into by A Ltd attract compliance with provisions relating to acceptance of deposit: Ashwin, a director of the Company, arranged for ₹10 lakh to meet an emergency requirement,

Rule 2(c)(viii) of the Companies (Acceptance of Deposits) Rules, 2014 provides that money received from a director as loan is not a deposit, provided the money is not given by the director out of any loan taken by him from others. In this case, since the money is from a personal loan taken by Ashwin from SBI, it does not fall under the exclusion. Therefore, it is considered a deposit and attracts compliance with provisions relating to acceptance of deposit.