Clarification on repayment of deposits accepted by the companies before the commencement of the Companies Act, 2013 u/s 74 of the said Act - Companies can repay deposits in accordance with t & c for which deposits were accepted.

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..... e Affairs 5 th Floor, A Wing, Shastri Bhavan, Dr R.P. Road, New Delhi Dated: 18 th June, 2015 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Clarification on repayment of deposits accepted by the companies before the commencement of the Companies Act, 2013 under section 74 of the said Act Sir, This Ministry has receiv .....

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..... l Company Law Tribunal under sub-section (4) of section 73 and sub section (2) of section 74 of the said Act , till the latter's constitution. Thus, a depositor is free to file an application under section 73(4) of the said Act, with the Company Law Board if the company fails to make repayment of deposits accepted by it. Further the company may also file application under section 74 .....

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..... payment of deposits accepted by it under the provisions of the Companies Act, 1956 or Companies Act, 2013 , subject to the contents of para 3 above. This issues with the approval of the competent authority. Yours faithfully (KMS Narayanan) Assistant Director (Policy) Copy to:- 1. e-Governance Section and web contents Officer to place this circular on the Ministr .....

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