alleryStart learning →A loan from which lender is excluded from deposits under Rule 2(1)(c)?
AA director's friend
BA trade association
CAn individual shareholder
DA banking company
Answer & Solution
Correct answer: D. A banking company
Loans or facilities from banking companies, the State Bank of India and similar banks are not deposits under the Rules.
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Related questions
Where must a company inviting public deposits upload the circular?A deposit circular stays valid for how long after the financial year closes (at most)?Who signs the circular copy sent to the Registrar under Rule 4(5)?On whose authority and name must a deposit circular be issued?An eligible company's public deposit circular is issued in which form?A section 73(2) company can send its member circular by which mode?After issuing the circular, what may a company not reserve a right to do?Who alone is entitled to brokerage on deposits procured for a company?