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CompaniesAct.in: Graduated Deposits CompaniesAct.in
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Updated On: 28/06/2014

Now updated based on Final Rules

To protect the depositor’s interest and to curb the malpractices adopted by Companies accepting deposits with intent to defraud the immaculate depositors, the Companies Act, 2013 has introduced new Legal framework for acceptance of deposits by Companies. The Ministry has provided crib (shed) for the protection of the depositors, by restricting companies from taking deposits from person other than its members, compulsory deposit insurance, appointment of deposit trustee etc.  Although on the contrary this new ploy will impose restrictions on entrepreneurs, increase the cost of obtaining deposits and reduce the attractive of seeking deposits as an easy and cheaper mode of corporate finance.

Name of Company

*Amount of Deposit (Fig in Crores) as on 31st March 2013

Jai Prakash Associates Limited

Rs 2355.57 crore

United Spirits Limited

Rs 436 crore

Unitech Limited

Rs 596  crore

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