COMPANIES ACT, 2013 SECTION 73 TO 76A
CS ALOK QUALIFIED AS ADVOCATE AND COMPANY SECRETARY FELLOW MEMBEROF DELHI TEACHING FROM2011 TOCA CS, CMA, LAW STUDENTS CORPORATE LAW CONSULTANT PCS ICSI NEW
ACCEPTANCE OF DEPOSITS BY COMPANIES
Sec. 73 Prohibition on Acceptance of Deposits from Public
Why the Prohibition on Acceptance of Deposits from Public?
What are the Consequences of Acceptance of Deposits from Public?
How will repayment defaults by companies affect the economy?
(1) On and after the commencement of this Act, no company shall invite, accept or renew deposits under this Act from the public except in a manner provided under this Chapter:
Provided that nothing in this sub-section shall apply to a banking company and non-banking financial company as defined in the Reserve Bank of India Act, 1934 (2 of 1934) and to such other company as the Central Government may, after consultation with the Reserve Bank of India, specify in this behalf.
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Advocate and Company Secretary, Corporate law consultant, Youtuber. Teaching is my passion and teaching since 2010