Public Deposits - Acceptance of ‑ Scope and provision of Companies (Acceptance of Deposits) Rules, 1975 explained - Companies Law - Circular : Nos. 1/79

Circular : Nos. 1/79 [1/1/79 ‑ CL ‑ V and 4/1/77 ‑ CL ‑ XIV/XI/X], dated 5 ‑ 2 ‑ 1979. Subject:- Public Deposits - Acceptance of ‑ Scope and provision of Companies (Acceptance of Deposits) Rules, 1975 explained A question has been raised as to whether the advertisements in vernacular newspaper in language other than the vernacular one is in compliance of rule 4(1). The question has been examined in consultation with the Reserve Bank of India and this Department is of the opinion that the intention behind rule 4(1) is that the advertisement to be published in the vernacular newspaper should be in the language of that paper, otherwise the very purpose of publication of the advertisement in the vernacular newspaper will be defeated. The advertisement as required in rule 4(1) should therefore be in the language of the vernacular newspaper.