Creation of deposit repayment reserve & investment/deposit- Clarification

Creation of deposit repayment reserve & investment/deposit u/r 18 of Companies (Share capital and Debentures) Rules 2014-Clarification

General Circular No. 34/2020

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.

The DGCoA,
All Regional Directors,
All Registrar of Companies,
All Stakeholders.

Dated: 29th September, 2020

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.


In continuation to General Circulars No. 11/2020 dated 24th March 2020 and 24/2020 dated 19.06.2020 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 dated 24.03.2020, from 30th September 2020 to 31st December, 2020. All other requirements shall remain unchanged.

This issues with the approval of the competent authority.

Yours faithfully,

(KMS Narayanan)
Assistant Director (policy)

Copy forwarded for information to:-

  1. e-governance section and web contents officer to place the circular on MCA website
  2. Guard file

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