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(3) No company referred to in sub-section (2) of section 73 shall accept or renew any deposit from its members, if the amount of such deposits together with the amount of other deposits outstanding as on the date of acceptance or renewal of such deposits exceeds twenty five per cent.

Every proposing depositor intending to accept the deposit invitation issued by a company should submit an application to the company in the form prescribed by the company. The depositor must also submit a declaration that the deposit is not being made from money borrowed by the company.

Concerned Section: Section 73 of the Companies Act, 2013. Limit on acceptance of deposits from members: Upto 100% of PUC+ FR+ Sec Prem. However certain private companies can accept deposits from their members in excess of the above limit subject to fulfillment of certain conditions specified below.

?deposit? includes any receipt of money by way of deposit or loan or in any other form by a company, but does not include such categories of amount as may be prescribed in consultation with the Reserve Bank of India.

Concerned Section: Section 73 of the Companies Act, 2013. Limit on acceptance of deposits from members: Upto 100% of PUC+ FR+ Sec Prem. However certain private companies can accept deposits from their members in excess of the above limit subject to fulfillment of certain conditions specified below.

(3) If, immediately before the commencement of these Rules, the aggregate amount of deposits, of the nature referred to in clause (i) of sub-rule (2), accepted by a company before such commencement, exceeds the limit specified in the said clause (i), the company shall, on or before, the 31st day of March 1978 bring ...