Discuss and decide with reference to the provisions of the Companies Act, 2013 and the rules made thereunder, whether the following shall be considered as 'deposits' accepted by a private company: (iv) A company has take

(iv) In the given case, it is assumed that an amount brought in by the promoters of the company is by way of unsecured loan in pursuance of the stipulation of any lending financial institution or a bank subject to the fulfilment of the following conditions, viz. The loan is brought in pursuance of the stipulation imposed by the lending institutions on the promoters to contribute such finance. The loan is provided by the promoters themselves or by their relatives or by both; and The exemption under this sub-clause shall be available only till the loans of financial institution or bank are repaid and not thereafter. Hence, the said amount brought in by the promoters of company by way of unsecured loan will not be treated as deposit since it is specifically excluded vide Rule 2(1)(c)(xiii) of the Companies (Acceptance of Deposits) Rules, 2014.