Western India Regional Council of
The Institute of Chartered Accountants Of India

Law Update Details

June 2017 CA. Rahul Joglekar
MCA (www.mca.gov.in)

MCA Notification GSR (E) dated 11th May 2017 – Companies (Acceptance of Deposits) (Amendment) Rules, 2017

MCA has notified the aforesaid rules to amend the rules pertaining to acceptance of deposits by companies. The requirement of having mandatory deposit insurance has been relaxed till 31st March 2018 or till the availability of deposit insurance product, whichever is earlier. For complete text of the notification, please refer the link: http://www.mca.gov.in/Ministry/pdf/CompaniesAcceptanceofDeposits_12052017.pdf.

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