INDIA: DEPOSITS UNDER THE COMPANIES ACT, 2013

Published On: 01/07/2016

Practice Area: Corporate & Commercial

Authors:

Kartik Ganapathy
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.