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MCA extends timelines for creation of DRR upto 30th September, 2020
CompaniesAct.in
Jun 20, 2020

In view of the current pandemic situation caused by COVID-19, MCA has further relaxed the compliance timelines for following upto 30th September, 2020:

  1. Requirement to create the Deposit Repayment Reserve of 20% of deposits maturing during the FY 2020-21;
  2. Requirement to invest or deposit at least 15% of amount of debentures maturing during the FY 2020-21.

The original date of compliance was April 30, 2020 which was previously, extended upto 30th June, 2020 vide Circular No. 11/2020 dated 24th March, 2020.

Click here to view Circular




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