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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.

Companies Law - 09/2015 - Dated:- 18-6-2015 - General Circular No. 09/2015 No. 1/8/2013-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr R.P. Road, New Delhi Dated: 18th 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 received representat .....

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de Removal of Difficulties (Second) Order [S.O. 1428 (E)] dated 2nd June, 2014 and Removal of Difficulties (Fourth) Order [S.O. 1460(E)] dated 6th June, 2014, the Company Law Board has been empowered to exercise the powers of National 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 c .....

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