CAIRR Update June 22, 2020

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CAIRR Update June 22, 2020

June 22, 2020
Summary of the circular issued by MCA on 19/06/2020
1. MCA extends the deadline for creation of Deposit Repayment Reserve and Investment of specified amount of maturing debentures under the Companies Act, 2013 and its Rules   
Through this circular, MCA has further extended the deadline already granted vide its General Circular No. 11/2020 dated 24/03/2020, with respect to the below provisions:
Provision Revised Relaxed Deadline Original Relaxed Deadline vide  General Circular No. 11/2020   Original Deadline as per the Act
Creation of Deposit Repayment Reserve for 20% of deposits maturing during the FY 2020-21 under Section 73(2)(c)  30 September, 2020  30 June, 2020  30 April, 2020
To invest or deposit atleast 15% of amount of debentures maturing in specified methods of investments or deposits under Rule 18 of the Companies (Share Capital & Debentures)Rules, 2014   30 September, 2020 30 June, 2020   30 April, 2020 

By | 2020-06-22T12:50:15+00:00 June 22nd, 2020||0 Comments

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