Companies Act

Extension of period for creation of deposit repayment reserve, investment of debentures

Extension of period for creation of deposit repayment reserve u/s 73(2)(C) of companies Act 2013 and to invest/deposit 15% of amount of debentures

General Circular No. 24/2020

 
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
 
Dated: 19th June, 2020
 
To
All Regional Directors,
All Registrar of Companies,
All Stakeholders
 

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

Sir/Madam,

In continuation to General Circular No. 11/2020 dated 24th March 2020 and 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, from 30th June 2020 to 30th September 2O20. All other requirements shall remain unchanged.

2. 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.

Download Circular Click Here >>

 
Share

Recent Posts

  • Income Tax

Allowability of depreciation on highway project awarded on DBOT basis

ITAT allows depreciation on highway project awarded on DBOT basis In a recent judgment, ITAT Delhi allows depreciation on highway…

16 hours ago
  • Income Tax

Once assessee satisfies conditions u/s 270AA, AO is bound to grant immunity

Once assessee satisfies conditions mentioned in section 270AA, the Assessing Officer would be bound to grant immunity In a recent…

18 hours ago
  • CA CS CMA

NTPC invites applications from CA/CMA as Executive Trainee. Last date: 27.01.2026

NTPC invited applications from CA/CMA as young professionals to join NTPC Projects/Stations as Executive Trainee, Finance. NTPC Limited has invited…

19 hours ago
  • GST

Allahabad HC disposes GST appeals as functioning of GST Tribunal put to motion

Allahabad High Court disposes GST appeals observing that the functioning of GST Appellate Tribunal are put to motion Allahabad High…

20 hours ago
  • Income Tax

Date of dispatch of notice as per ITBA portal and date of email may not be same – ITAT

Date of dispatch of notice as per ITBA portal and date of communication by email may not necessarily be the…

20 hours ago
  • GST

Assignment of leasehold rights not amount to supply of service under GST Act.

In a recent judgment, Bombay High Court held that assignment of leasehold rights for consideration would not amount to supply…

23 hours ago