Acceptance of Deposits Section 73 to 76 of the Companies Act

Last updated: 05 June 2021

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This document details the regulations surrounding the acceptance of deposits by companies in India, as outlined in Sections 73 to 76 of the Companies Act 2013 and associated rules. It clarifies what constitutes a deposit, lists various exemptions, and explains the conditions and compliances private and public companies must adhere to when accepting deposits from members or the public. This guide is crucial for company directors, secretaries, legal advisors, and finance professionals seeking to understand and comply with deposit acceptance norms.

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Deposit is one of the sources available with company to raise funds for meeting its short term and long-term fund requirements. Section 73 to 76 of the Companies Act 2013 (herein after called the Act) read with Rules made under Chapter V of the Companies Act, 2013 regulate the invitation and acceptance of deposits. As companies Act 2013, â€œdepositâ€ includes any receipt of money by way of deposit or loan or in any other form, by a company, but does not include such categories of amount as may be prescribed under Rule 2(c) of the Companies (Acceptance of Deposit) Rules, 2014. #pdf

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Submitted by CA. Peeyush Sharma · Posted 05 June 2021 · Other files by CA. Peeyush Sharma · Report

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