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deposits
As per companies amendment act, 2017 , co. Having deposits shall be req. To create deposits repayment reserve on or before 30 april of every fy account for an amount of 20% of deposits maturing at the end of next fy or following fy.? Or of both
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O/s deposits maturing at the end of the current financial year
phraseology of amendment states--- 20% of amtm maturing during next following financial year and not as at end...
It conveys that let say an amount of debentures to be maturing at or around March 2019,say 50 cr, you have to transfer atleast 20 % funds to DRR within 30th day of April 2018.
Pls. Support correct me if I am wrong.
Pls. Support correct me if I am wrong.
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