{"id":2434,"date":"2018-07-13T10:02:48","date_gmt":"2018-07-13T10:02:48","guid":{"rendered":"https:\/\/companyregistrationonline.in\/?p=2434"},"modified":"2021-01-06T06:07:48","modified_gmt":"2021-01-06T06:07:48","slug":"companies-acceptance-of-deposits-amendment-2018","status":"publish","type":"post","link":"https:\/\/companyregistrationonline.in\/blog\/companies-acceptance-of-deposits-amendment-2018\/","title":{"rendered":"Companies Acceptance of Deposits Amendment Rules, 2018"},"content":{"rendered":"

According to the exercise of powers that are conferred by Section 73 and Section 74 read with the Sub-section (1) and the Sub-section (2) of Section 469 of the Companies Act,2013, the Central Government in consultation with the Reserve Bank of India, herewith makes the further amendments in the Companies Acceptance Deposit Rules, 2014.<\/p>\n

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Related<\/strong>–<\/strong>\u00a0Companies Amendment Act 2017-Summary of Rules Notified<\/a><\/p>\n<\/blockquote>\n

These rules are known as Companies (Acceptance of Deposits) Amendment Rules, 2018 which shall be applicable from 15 August 2018:<\/p>\n

    \n
  1. Rule 4<\/strong><\/span>: \u00a0Form and Particulars of Advertisements or Circulars \u2013<\/strong>\u00a0Sub-Rule (1) after the clause, the following clause shall be inserted -\u201cProvided further that a certificate of the statutory auditor of the company shall be attached in Form DPT-1, stating that the company has not committed default in the repayment of deposits or in the payment of interest on such deposits accepted either before or after payment of interest on such deposits accepted either before or after the commencement of the Act and in case a company had committed a default in the repayment of deposits accepted either before or after the commencement of the Act or in the payment of interest on such deposits, a certificate of the statutory auditor of the company shall be attached in Form DPT-1, stating that the company had made good the default and a period of five years have elapsed since the date of making good the default as the case may be.\u201d<\/li>\n
  2. Rule 5<\/strong><\/span>: The Manner and extent of Deposit Insurance\u00a0\u2013 OMITTED<\/strong><\/strong><\/strong><\/li>\n
  3. Rule 13<\/span><\/strong>: Maintenance of Liquid Assets and Creation of Deposit Repayment Reserve Account\u00a0\u2013\u00a0\u00a0SUBSTITUTED<\/strong> as follows: \u201cProvided that the amount remaining deposited shall not at any time fall below twenty percent. of the number of deposits maturing during the financial year.\u201d<\/li>\n
  4. Rule 14:\u00a0<\/strong><\/span>Registers of deposits\u00a0\u2013 Sub-rule (1), Clause (k)\u00a0OMITTED<\/strong><\/strong><\/strong><\/li>\n
  5. In Annexure<\/span><\/strong>\u00a0 \u2013\u00a0 The following changes take place:<\/li>\n<\/ol>\n

    In Form DPT-1\u00a0<\/strong><\/p>\n

    [Under section 73 (2)(a) and section 76 and rule 4(1) and 4(2) of the Companies (Acceptance of Deposits) Rules, 2014 ]<\/em><\/p>\n

    The circular or circular in the form of the advertisement shall contain the following:<\/p>\n

    1. GENERAL INFORMATION<\/span><\/h3>\n

    (a) Name, address, website, and other contact details of the company.<\/p>\n

    (b) Date of Company registration<\/a><\/strong>.<\/p>\n

    (c) Business carried by the company and its subsidiaries with the complete details of branches or units.<\/p>\n

    (d) Brief Particulars of the Company Management.<\/p>\n

    (e) Names, Addresses, DIN<\/a>,<\/strong> and Occupations of all the Company Directors.<\/p>\n

    (f) Management\u2019s perception of Risk Factors.<\/p>\n

    (g) Details of default, including the amount involved, duration of default and present status, in repayment of \u2013<\/p>\n