INDIA: DEPOSITS UNDER THE COMPANIES ACT, 2013

Published On: 01/07/2016

Practice Area: Corporate & Commercial

Authors:

Deposits have been defined under the Companies Act, 2013 ("2013 Act") to include any receipt of money by way of deposit or loan or in any other form by a company. However deposits do not include such categories of amounts as may be prescribed in consultation with the Reserve Bank of India ("RBI"). Chapter V of the 2013 Act and the Companies (Acceptance of Deposits) Rules, 2014 as amended from time to time ("Deposits Rules") primarily cover regulations relating to deposits.