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As per Section 74, in case the due date for repayment of the depsoit falls after 31.03.2015,whether the non-eligilible companies needs to repay it on 31.03.2015 or on the due date? kindly clarify with the section and rule reference.

Section 74- Repayment of deposits, etc., accepted before commencement of this Act.

Posted By: Srinivasaraghavan 5 year(s) ago

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    tejal

as per section 74(1)b, the company who has accepted deposits before commencement of this act (i.e. April 01, 2014) shall repay within one year, 1. of such commencement (i.e. March 31, 2015) or 2. from the date on which such payments are due, WHICHEVER IS EARLIER.

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    reena

RULE 19 EXPLANATION

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    reena

REFER RULE FOR THIS SECTION

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