Companies Act, 2013
Section - 73 - Prohibition on acceptance of deposits from public
CHAPTER VACCEPTANCE OF DEPOSITS BY COMPANIESProhibition on acceptance of deposits from public.73. (1) On and after the commencement of this Act, no company shall invite,
accept or renew deposits under this Act from the public except in a manner provided under this Chapter:Provided that nothing in this sub-section shall apply to a banking company and non-banking financial company as defined in the Reserve Bank of India Act, 1934 (2 of 1934) and to such other company as the Central Government may, after consultation with the Reserve Bank of India, specify in this behalf.(2) A company may, subject to the passing of a resolution in general meeting and subject to such rules as may be prescribed in consultation with the Reserve Bank of India, accept deposits from its members on such terms and conditions, including the provision of security, if any, or for the repayment of such deposits with interest, as may be agreed upon between the company and its members, subject to the fulfilment of the following conditions, namely:-
| (a) | - | issuance of a circular to its members including therein a statement showing the financial position of the company, the credit rating obtained, the total number of depositors and the amount due towards deposits in respect of any previous deposits accepted by the company and such other particulars in such form and in such manner as may be prescribed; |
.... To read the full section download the app from Google Play store
ARTICLESHIP
21 September 2026
CA Article AssistantKK & Company Chartered Accountant Pune CA Inter View Details
ARTICLESHIP
30 September 2026
CA Article AssistantCA Suraj Garg & Associates New Delhi CA Final View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGERAnupam Parashar & Co. Ghaziabad CA Final View Details
Featured
11 September 2026
Audit ExecutiveRBSM Corporate Advisors Private Limited Pune CA View Details
CCI
Pro
|
CAclubindia
