COVID 19Legislation UpdatesNotifications

Clarification with regard to creation of deposit repayment reserve of 20% under Section 73 (2) (C) of the Companies Act, 2013 and to invest or deposit 15% of amount of debentures under Rule 18 of Companies (Share capital and Debentures) Rules 2014 – COVID-19 — Extension of time-regarding

ln 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 , Vl of the aforesaid circular, from 30th June 2020 to 30th September 2020.

CIRCULAR


Ministry of Corporate Affairs

[Circular dt. 19-06-2020]