Decide whether the following transactions will fall within the ambit of "deposits" as defined under the Companies Act, 2013, quoting relevant provisions of the Act : (d) Great Ltd. collected a security deposit of ₹25 lak

Deposit does not include any amount received in the course of, or for the purposes of, the business of the company as security deposit for the performance of the contract for supply of goods or provision of services [Rule 2 (c)(xii)(c)]. In the instant case, the security deposit of ₹25 lakh received from Mr. Sorabh Jain against performance of the contract for supply and erection of machinery shall not be treated as deposit.