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Companies (Acceptance of Deposits) Amendment Rules 2016

Companies Law - File No 1/8/2013-CL-V - Dated:- 29-6-2016 - Government of India Ministry of Corporate Affairs Notification New Delhi, dated, the 29th June, 2016 G.S.R. 639(E). - In exercise of the powers conferred by sections 73 and 76 read with sub-section (1) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Acceptance of Deposits) Rules, 2014, namely:- (1) These rules may be called the . (2)They shal .....

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tituting a charge on the assets of the company and listed on a recognised stock exchange as per applicable regulations made by Securities and Exchange Board of India."; (iii) for sub-clause (xi), the following sub-clause shall be substituted, namely:- "(xi) any non-interest bearing amount received and held in trust;"; (iv) in sub-Clause (xii),- (A) after item (d) and before the proviso, the following items shall he inserted, namely:- "(e) as an advance towards consideration f .....

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ether in print or in electronic to be adjusted against receipt of such publications; . (B) in the Explanation, the words "referred to in the proviso" shall be omitted; (v) in the Explanation, after sub-clause (xiv), for the words "shall be treated as deposits", the words "shall be considered as deposits unless specifically excluded under this clause" shall be substituted; (vi) after sub-clause (xiv), the following sub-clauses shall be inserted, namely:- (xv) any amo .....

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tranche, from a person. Explanation.- For the purposes of this sub-clause,- 1. "start-up company" means a private company incorporated under the Companies Act, 2013 or Companies Act, 1956 and recognised as such in accordance with notification number G.S.R. 180(E) dated 17th, February, 2016 issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry; II. "convertible note" means an instrument evidencing receipt of money initially as a debt, .....

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e Principal rules,- (i) in sub-rule (3),- (a) for the words "twenty five per cent", the words "thirty five per cent." shall be substituted; (b) the following proviso shall be inserted namely: "Provided that a private company may accept from its members monies not exceeding one hundred per cent of aggregate of the paid up share capital, free reserves and securities premium account and such company shall file the details of monies so accepted to the Registrar in such manne .....

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from any one of the approved credit rating agencies as specified for Non-Banking Financial Companies in the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998, issued by the Reserve Bank of India, as amended from time to time." 4. in rule 4 of the principal rules, for sub-rule (2), the following sub-rule shall be substituted, namely:- (2) Every eligible company intending; to invite deposits shall issue a circular in the form of an advertisement in .....

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