CAIRR Update September 30, 2020

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CAIRR Update September 30, 2020

September 30, 2020

Summary of the circular issued by MCA on 29/09/2020

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 to 31/12/2020

Through this circular, MCA has further extended the deadline already notified vide its General Circular Nos. 11/2020 and 24/2020 dated 24/03/2020 and 19/06/2020 respectively, with respect to complying with the below provisions to 31/12/2020 (as against earlier revised deadline of 30/09/2020):

  • Creation of Deposit Repayment Reserve for 20% of deposits maturing during the FY 2020-21 under Section 73(2)(c) of the Companies Act, 2013
  • To invest or deposit at least 15% of amount of debentures maturing in specified methods of investments or deposits under Rule 18 of the Companies (Share Capital & Debentures) Rules, 2014

This circular is integrated in out free to use website for your easy reference.

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By | 2020-10-09T13:42:19+00:00 September 30th, 2020||0 Comments

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