Rule 3A - Maintenance of liquid assets. - Companies (Acceptance of Deposits) Rules, 1975

[1] [3A. Maintenance of liquid assets. (1) Every company shall, before the 30th day of April of each year, deposit or invest, as the case may be, a sum which shall not be less than [2] [fifteen per cent] of the amount of its deposits maturing during the year ending on the 31st day of March next following in any one or more of the following methods, namely: (a) in a current or other deposit account with any scheduled bank, free from charge or lien; (b) in unencumbered securities of the Central Government or of any State Government; (c) in unencumbered securities mentioned in clauses (a) to (d) and (ee) of section 20 of the Indian Trusts Act, 1882 (2 of 1882); [3] [(d) in unencumbered bonds issued by the Housing Development Finance Corporation Limited, Bombay, a company incorporated under the Companies Act, 1956 (1 of 1956), and notified under clause (f) of section 20 of the Indian Trusts Act, 1882 (2 of 1882)]: [4] [ Provided that with relation to the deposits maturing during the year ending on the 31st day of March, 1979, the sum required to be deposited or invested under this sub-rule shall be deposited or invested before the [5] [30th day of September, 1978].] Explanation . For the purpose of this sub-rule, the securities referred to in clause (b) or clause (c) shall be reckoned at their market value. (2) The amount deposited or invested, as the case may be, under sub-rule (1), shall not be utilised for any purpose other than for the repayment of deposits maturing during the year referred to in that sub-rule, provided that the amount remaining deposited or invested, as the case may be, shall not at any time fall below [6] [fifteen per cent] of the amount of deposits maturing until the 31st day of March of that year.] ----------------------------------------- Notes:- [1] Inserted by the Companies (Acceptance of Deposits) Amendment Rules, 1978 w.e.f. 1-4-1978 vide GSR 201(E), dated 30-3-1978. [2] Substituted by the Companies (Acceptance of Deposits) Amendment Rules, 1992 w.e.f. 1-4-1992 vide GSR 39(E), dated 10-1-1992. [3] Inserted by the Companies (Acceptance of Deposits) Amendment Rules, 1987, vide GSR 850(E), dated 12-10-1987. [4] Inserted by the Companies (Acceptance of Deposits) Second Amendment Rules, 1978, w.e.f. 28-4-1978 vide GSR 252(E), dated 27-4-1978. [5] Substituted by the Companies (Acceptance of Deposits) Third Amendment Rules, 1978, w.e.f. 29-6-1978 vide GSR 341(E), dated 29-6-1978. [6] Substituted by the Companies (Acceptance of Deposits) Amendment Rules, 1992 w.e.f. 1-4-1992 vide GSR 39(E), dated 10-1-1992.