Public Deposits - Acceptance of ‑ Scope and provision of Companies (Acceptance of Deposits) Rules, 1975

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..... Deposits) Rules, 1975 explained Rule 3(1)(b) : WHETHER RETENTION OF BALANCE PAYMENT OF DEPOSIT AMOUNTS TO RENEWAL Query : The constituent company has incurred losses in the last year and its paid‑up capital and reserves have depleted. As a result, the deposits already accepted by the company have crossed the maximum permissible limit prescribed under the Rules. The deposits accepte .....

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..... e amount of deposits ? Answer : If the deposits were accepted at a point of time when they were within limits, they are to be repaid according to the date of maturity. If due to subsequent losses, etc., the deposits already accepted exceed the limit, which has become reduced due to losses, there is no contravention of the provisions of the Rules. - Circular - Trade Notice - Public Notice - I .....

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