Punishment for Contravention If any company referred to in sub-section (2) of section 73 or any eligible company inviting deposits or any other person contravenes any provision of these rules for which no punishment is provided in the Act, the company and every officer of the company who is in default shall be punishable with fine which may extend to five thousand […]

Statement Regarding Deposits Existing as on the Date of Commencement of the Act For the purposes of clause (a) of sub-section (1) of section 74, the statement shall be in Form DPT-4. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration |

Applicability of Sections 73 and 74 to Eligible Companies Pursuant to provisions of sub-section (2) of section 76 of the Act, the provisions of sections 73 and 74 shall, mutatis mutandis, apply to acceptance of deposits from public by eligible companies. Explanation.- For the purposes of this rule, it is hereby clarified that in case of a company which had

Power of Central Government to Decide Certain Questions If any question arises as to the applicability of these rules to a particular company, such question shall be decided by the Central Government in consultation with the Reserve Bank of India. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income

Penal Rate of Interest Every company shall pay a penal rate of interest of eighteen per cent. per annum for the overdue period in case of deposits, whether secured or unsecured, matured and claimed but remaining unpaid. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income

Disclosures in the financial statement (1) Every company, other than a private company, shall disclose in its financial statement, by way of notes, about the money received from the director. (2) Every private company shall disclose in its financial statement, by way of notes, about the money received from the directors, or relatives of directors.”]

Return of Deposits to be Filed With the Registrar. Every company to which these rules apply, shall on or before the 30th day of June, of every year, file with the Registrar, a return in Form DPT-3 along with the fee as provided in Companies (Registration Offices and Fees) Rules, 2014 and furnish the information contained therein

General Provisions Regarding Premature Repayment of Deposits Where a company makes a repayment of deposits, on the request of the depositor, after the expiry of a period of six months from the date of such deposit but before the expiry of the period for which such deposit was accepted, the rate of interest payable on such deposit shall be reduced by one per

Registers of Deposits (1) Every company accepting deposits shall maintain at its registered office one or more separate registers for deposits accepted or renewed, in which there shall be entered separately in the case of each depositor the following particulars, namely:- (a) name, address and PAN of the depositor/s; (b) particulars of guardian, in case of a minor; (c) particulars of the

Maintenance of Liquid Assets and Creation of Deposit Repayment Reserve Account Every company referred to in sub-section (2) of section 73 and every eligible company shall on or before the 30th day of April of each year deposit the sum as specified in clause (c) of the said sub-section with any scheduled bank and the amount so deposited shall not be