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
General Circular No. 24/2O2O
File No.02 /O8 I 2O2O-CL-V
Government of India
Ministry of Corporate Affairs
Stt’ Floor, A’Wing, Shastri Bhawan,
Dr. R. P. Road, New Delhi- 1 10001.
Dated: 19th June,2O2O
To
All Regional Directors,
All Registrar of Companies,
All Stakeholders
Subject: Clarification with regard to creation of deposit repayment
reserve of 20./o u/s. 73 (2) (C ) of the companies Act 2013 and to invest or
deposit 157o of amount of debentures u/r.18 of Companies (Share capital
and Debentures) Rules 2014 – COVID-19 -Extension of time-regarding’
Sir/Madam,
ln continuation to General Circular No. 1112020 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 2O20. All other requirements
shall remain unchanged.
- This issues with the approval of the competent authority
Yours faithfully
KMS Narayan
Assistant Director (policy)