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Which is NOT treated as a deposit under the Companies Act?
AMoney received as an unsecured loan from a member of a private company
BLoan from a bank or financial institution
CMoney received from another company
DMoney received as advance against a sale order (within 365 days)
Answer & Solution
Correct answer: B. Loan from a bank or financial institution
1. Rule 2(1)(c) lists numerous exemptions from the definition of 'deposit'.
2. Loans from scheduled banks and FIs are categorically excluded.
3. Hence (A).
_Source: ICAI BoS CA Inter Paper 2 — Acceptance of Deposits_