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Companies (Acceptance of Deposits) Amendment Rules, 2018 effective from 15 August 2018

Governement of India 

Minsitry fo Corporate Affairs

Notification 

New Delhi, dated , 05.07.2018,

G.S.R.___(E):- In excercise of  the powers  conferred by section 73 and section 74 read wth sub-section(1) and sub-section (2) of section 469 of the Companies  Act, 2013(18 of 2013), the Central Government in consultation  with the Reserve Bank of India, hereby makes  the following rules further to amend the Companies (Acceptance of Deposits)  Rules, 2014 namely:-

1.(1) These Rules  may be called the Companies (Acceptance of Deposits) Amendment Rules, 2018

(2) They Shall come  into force on 15 August 2018

2. In the Companies (Acceptance of Deposits) Rules, 2014

(a) in rule4,  in sub-rule (1), after the proviso , the following  proviso  shall be inserted, namely:-

“Provided further that a certificate  of statutory  auditor of the company shall be  attached in FormDPT-1, stating  thet the company  has not committed  default  in the replayment of deposits or in the payment of interest on such deposits accepted either before or after the commencement of the Act and  in case a company had committed a default in the repayment of deposits  accepted wither before or after the commencement of the Act and in case  a company had  committed  a default  in the repayment  of the deposits accepted either before or after the commencemnet of the Act  or in the payment of interest  on such deposits , a certificate  of the statutory auditor  of the company shall be  attached  in Form DPT -1 stating  that the company  had made good the default and the period of default as the case may be.”;

(b) rule 5 shall be omitted;

(c) in Rule 13 , for the proviso , the following  shall  be substituted , namely :-

“Provided  that the amount  remaining deposited shall not at any time fall below twenty percent of the amount of deposits maturing during the financial year .”;

(d) in rule 14, in sub-rule (1), clause(k) shall be omitted;

(e) in the Annexure,-

(i)for Form DPT-1 , the following Form shall be substituted , namely:-

Click here to Download Companies (Acceptance of Deposits) Amendment Rules, 2018 notification

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