Clause 16 - Amendment of section 74. - Companies (Amendment) Bill, 2017

Amendment of section 74. 16. In section 74, in sub-section ( 1 ), for clause ( b ), the following clause shall be substituted, namely:- ( b ) repay within three years from such commencement or on or before expiry of the period for which the deposits were accepted, whichever is earlier: Provided that renewal of any such deposits shall be done in accordance with the provisions of Chapter V and the rules made thereunder. .