TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... n; (ii) any amount received as a loan from any banking company or from the State Bank of India or any of its subsidiary banks or from a banking institution notified by the Central Government under section 51 of the Banking Regulation Act, 1949 (10 of 1949), or a corresponding new bank as defined in clause (d) of section 2 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970), or from a co-operative bank as defined in clause (b-ii) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934); (iii) any amount received as a loan from the Industrial Finance Corporation of India established under the Industrial Finance Corporation Act, 1948 (15 of 1948), or from a State Financial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ance Company Limited and the United Fire and General Insurance Company Limited ] or from the Gujarat Industrial Investment Corporation Limited or from any financial company wholly owned by the Central Government or State Government [3] [or from the Oil Industry Development Board [4] [or Housing Development Finance Corporation Limited,] or from any other financial company or public financial institution which may be notified by the Central Government in this behalf in consultation with the Reserve Bank of India;] [5] [(iv) any amount received by a company from any other company [6] [* * *]; (v) any amount received from an employee of the company by way of security deposit; (vi) any amount re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hedule VI of the Act excluding intangible assets of the company or with an option to convert them into shares in the company: Provided that in the case of such bonds or debentures secured by the mortgage of any fixed assets referred to in Schedule VI of the Act excluding intangible assets the amount of such bonds or debentures shall not exceed the market value of such fixed assets ] [10] [(xi) any amount brought in by the promoters by way of unsecured loans in pursuance of stipulations of financial institutions subject to the fulfilment of the following conditions, namely:- (a) the loans are brought in pursuance of the stipulation imposed by the financial institutions in fulfilment of the obligation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mount received as loan from the National Dairy Development Board by the companies owned by it directly or through its subsidiary companies.] (c) Depositor includes any person who has given a loan to a company; [13] [(cc) Financial company means a non-banking company which is a financial institution within the meaning of clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934);] [14] [(d) free reserves includes the balance in the share premium account, capital and debenture redemption reserve and any other reserves shown or published in the balance sheet of the company and created by appropriation out of the profits of the company, but does not include the balance in any reserve c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Companies (Acceptance of Deposits) Amendment Rules, 1978 w.e.f. 1-4-1978 vide GSR 201(E), dated 30-3-1978. [10] Inserted by the Companies (Acceptance of Deposits) Second Amendment Rules, 1985 w.e.f. 19-4-1985 vide GSR 372(E), dated 19-4-1985. [11] Now Industrial Reconstruction Bank of India. [12] Inserted by Notification No. GSR 300(E), dated 3-4-2003, w.e.f. 3-4-2003. [13] Inserted by the Companies (Acceptance of Deposits) Amendment Rules, 1978 w.e.f. 1-4-1978 vide GSR 201(E), dated 30-3-1978. [14] Substituted by the Companies (Acceptance of Deposits) Amendment Rules, 1978 w.e.f. 1-4-1978 vide GSR 201(E), dated 30-3-1978. [15] Inserted by Companies (Acceptance of Deposits) (Third Amendment) Rules, 2001, w.e. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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