The
Ministry has issued three notifications with regard to provisions of the
Companies Act, 2013 (Act)/Rules made there under for acceptance of deposits by
companies. In view of the suggestions received from the stakeholders to give
transitional period for complying with the deposit insurance requirements, the
amendment in the relevant rule has been made allowing companies to accept
deposits without deposit insurance for one year i.e. till 31.03.2015.
Further,
with a view to allow relief to companies facing difficulties in repayment of
deposits, provisions of section 74(2) & (3) of the Act have been brought
into force with effect from 6th June, 2014 and the Company Law Board (CLB) has
been allowed to exercise the powers to allow further time to companies for
repayment of deposits/interest in certain cases.
These notifications are available on the Ministry’s website at www.mca.gov.in.
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