Return of deposit

632 views 1 replies

Dear Friends,

 

Kindly tell me the difference between the Rule 3(2)(i) and Rule 3(2)(ii) of Companies (Acceptance of Deposits) Rules, 1975

 

I need to file retun of deposit with RBI before 30th June, 2013.

 

Regards,

 

Abhishek

Replies (1)
Originally posted by : abhishek kadam

Dear Friends,

 

Kindly tell me the difference between the Rule 3(2)(i) and Rule 3(2)(ii) of Companies (Acceptance of Deposits) Rules, 1975

 

I need to file retun of deposit with RBI before 30th June, 2013.

 

Regards,

 

Abhishek

 the directors are also shareholders. After the withdrawal of the exemption, unsecured borrowings from directors, along with the other categories, cannot exceed 10 per cent of the aggregate paid-up share capital and free reserves of the company in terms of Rule 3(2)(i).

Hence, these deposits cannot also exceed the 10 per cent limit where the directors are also shareholders. To avoid this situation, directors who have lent money to companies by way of unsecured loan would like to give up their membership in order to come under Rule 3(2)(ii), under which, a company can accept deposits from "others" up to 25 per cent of its paid-up capital and free reserves.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
20 June 2026
Assistant Accounts Manager

Fintax Professionals

Gurgaon

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details