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The Section 73 Companies Act 2013 is an Act of the Parliament of India on Indian organisation regulation which controls consolidation of an organisation, obligations of an organisation, chiefs, disintegration of an organisation. The 2013 Act is partitioned into 29 sections containing 470 areas against 658 Sections in the Companies Act, 1956, and has seven timetables. Nonetheless, just 438 (470-39+7) segments are staying in this Act. The Act has supplanted The Companies Act, 1956 (halfway) after getting the consent of the President of India on 29 August 2013. Segment 1 of the organisation’s Acts 2013 came into force on 30 August 2013.
Section 73 of the Companies Act 2013
On and after the beginning of this Act, no organisation will welcome, acknowledge or reestablish stores under this Act from general society besides in a way given under this Chapter:
Nothing in this sub-area will apply to a financial organisation and non-banking monetary organisation as characterised in the Reserve Bank of India Act, 1934, and to such organisations as the Central Government may, after the conference with the Reserve Bank of India, indicate for this sake. Ninety-eight unique areas of the organisations Act came into force on 12 September 2013 with few changes like privately owned businesses.
An organisation may, dependent upon the death of a goal in comprehensive gathering and liable to such standards as might be endorsed in an interview with the Reserve Bank of India, acknowledge stores from its individuals based on such conditions and conditions, including the arrangement of safety, if any, or for the reimbursement of such stores with revenue, as might be settled upon between the organisation and its individuals, dependent upon the satisfaction of the accompanying circumstances, to be specific:-
Rule of deposit Section 73 of the Companies Act 2013
Let us know how the rule of deposit of section 73 of the companies acts 2013 is implemented in this guide.
- Issuance of a roundabout to its individuals, including in an explanation showing the monetary place of the organisation, the credit score, the complete number of contributors, and the sum due towards stores regarding any past stores acknowledged by the organisation and such different specifics in such structure and in such way as might be endorsed.
- Documenting a duplicate of the round alongside such proclamation with the Registrar something like thirty days before the date of issue of the roundabout.
- Storing, at the very latest, the 30th day of April every year, such aggregate which will not be under 20%. The store reimbursement hold account shows how much its stores develop during the accompanying monetary year and keep in a planned bank in a different financial balance.
- Guaranteeing that the organisation has not submitted any default in the reimbursement of stores acknowledged either previously or after the initiation of this Act or instalment of interest on 3[such stores and where a default had happened, the organisation made great the default and a time of five years had slipped by since the date of making great the default.
- Giving security, assuming any for the due reimbursement of how many stores or the interest consequently remembering the production of such charge for the property or resources of the organisation:
Given that on the off chance that where an organisation doesn’t get the stores or gets such stores to some degree, then, at that point, the stores will be named as ”unstable stores” and will be so cited in each roundabout, structure, commercial or any archive connected with greeting or acknowledgement of stores.
Acceptance of deposits by companies
Organisations by and large raise assets through issues of value or inclination and offer debentures and business papers, and bury corporate advances. Stores are also one of the sources accessible to an organisation to raise assets to meet the present moment or long-haul prerequisites. To safeguard the interest of the contributors and to stop the misbehaviours taken on by organisations tolerating stores, the organisation’s Act, 2013 read with Companies (Acceptance of Deposit) Rules, 2014 (thus after called ‘the Rules’) made under Chapter V has presented different circumstances for acknowledgement of stores by organisations. It was all about the acceptance of deposits by the companies.
Conclusion
The Government of India presented the Companies (Acceptance of Deposits) Rules in 2014, which have been corrected every once in a while to facilitate the acknowledgement of stores. This article manages the circumstances and rules concerning the acknowledgement of stores by organisations. Ninety-eight unique areas of the organisations Act came into force on 12 September 2013 with few changes like privately owned businesses. The greatest number of individuals was 50, and presently it will be 200. The article has provided a detailed study of Section 73 of Companies Act 2013, Acceptance of deposits by companies, and the term rule of deposit in the article above.
