Loan Repayment as per Companies Act 2013 before 31.03.2015

Dear Readers,

As the last date of repayment of is approaching, companies have a doubt regarding what types of loan/deposit have to be paid.
Under new Companies Act 2013, the company cannot accept, deposit (Loan) from any person other than director of the company. If the company which has already accepted loan (or already taken loan) from a person who is not a director (for eg. shareholders/ relatives/ outside party/ partnership firm/HUF etc) will be treated as deposit and need to repay before 31st March 2015.

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