Companies Act, 1956
Section - 58AA - Small depositors
[Small depositors.58AA. (1) Every company, which accepts deposits from small depositors, shall intimate to the [Tribunal] any default made by it in repayment of any such deposits or part thereof or any interest thereupon.(2) The intimation under sub-section (1) shall,— (a) be given within sixty days from the date of default; (b) include particulars in respect of the names and addresses of each small depositor, the principal sum of deposits due to them and interest accrued thereupon.Explanation.—For the removal of doubts, it is hereby declared that the intimation under this section shall be given on monthly basis.(3) Where a company has made a default in repayment of any deposit or .... To read the full section download the app from Google Play store
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