The MCA amends certain provisions in deposits rules
The Companies Act, 2013 (2013 Act) and the Companies (Acceptance of Deposits) Rules, 2014 (the Rules) prescribe the requirements companies should follow to accept deposits.
In the past, the Ministry of Corporate Affairs (MCA) has issued various clarifications/amendments to certain provisions of Rules vide its circulars dated 31 March 2015 and 16 September 2016.
Recently, on 29 June 2016, MCA through a notification issued Companies (Acceptance of Deposits) Amendment Rules, 2016 which make certain amendments to the Rules. The amendments have come into force from the date of their publication in the official gazette i.e. from 29 June 2016.
This issue of First Notes summarises the important amendments to the Rules made by MCA.
To access the text of the MCA notification, please click here.
© 2020 KPMG Assurance and Consulting Services LLP, an Indian Limited Liability Partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.
KPMG (Registered) (a partnership firm with Registration No. BA- 62445) converted into KPMG Assurance and Consulting Services LLP (a Limited Liability partnership firm) with LLP Registration No. AAT-0367 with effect from July 23, 2020.
For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.