Section 16 - Amendment of section 74 - Companies (Amendment) Act, 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. .