Clarification with regard to creation of deposit repayment reserve of 20% u/s. 73 (2) (C ) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 of Companies (Share capital and Debentures) Rules 2014 - COVID-19 -Extension of time - Companies Law - 24/2020

General Circular No. 24/2020 File No.02/08/2020-CL-V Government of India Ministry of Corporate Affairs 5th Floor, 'A' Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi-110001. Dated: 19th June, 2020 To All Regional Directors, All Registrar of Companies, All Stakeholders Subject: Clarification with regard to creation of deposit repayment reserve of 20% u/s. 73 (2) (C ) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 of Companies (Share capital and Debentures) Rules 2014 - COVID-19 -Extension of time-regarding. Sir/Madam, In continuation to General Circular No. 11/2020 dated 24th March 2020 and keeping in view the requests received from various stakeholders seeking extension of time for compliance of the subject requirements on account of Covid-19, it has been decided to further extend the time in respect of matters referred to in paras V , VI of the aforesaid circular, from 30th June 2020 to 30th September 2020. All other requirements shall remain unchanged. 2. This issues with the approval of the competent authority. Yours faithfully, ( KMS Narayanan) Assistant Director (Policy)