First Notes - 2 April 2015

First Notes - 2 April 2015

The MCA provides further clarity on deposit related norms of the Companies Act, 2013

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The Ministry of Corporate Affairs (MCA) has been issuing various amendments and clarifications to the Companies Act, 2013 (the Act) and the corresponding Rules to remove practical impediments faced by companies while implementing certain provisions of the Act. 
 
Recently, the MCA has amended the Companies (Acceptance of Deposits) Rules, 2014 and has issued clarifications relating to the amounts received by the private companies from their members, directors or their relatives prior to 1 April 2014. The amendments would come into force from the date of its publication in the Official Gazette.

This issue of First Notes summarises the important aspects arising from the amendments and the clarifications provided by the MCA. For the text of the amendments and the clarifications issued by the MCA, For clarifications relating to the amounts received by the private companies from their members, directors or their relatives prior to 1 April 2014, please click
here.

For amendments in the Companies (Acceptance of Deposits) Rules, 2014 made by the MCA, please click here.

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