Public
Deposits by Non banking Non Financial Company
(Companies
(Acceptance of Deposits) Rules, 1975 & Sections 58A, 58AA, 58AAA, 58B of
Companies Act, 1956.)
1.
Convene
a BM after giving notice U/s 286 and decide about the inviting and approve the
text of Advertisement- Rule 4 (2).
2.
The
total amount of deposit that can be accepted is limited to 35% of paid up cap
& free reserve of the Co.
3.
Deposits
are allowed for 6-36 months.
4.
Out
of 35% -
Ø 10% can be in the form of deposit
against unsecured directors or deposit from shh or deposit guaranteed by
Directors.
Ø The other 25% can be any other
deposits.
Ø The 10% out of 35% could be short term
deposit repayable after 3 months.
5.
Make
sure that net owned fund of company is Rs. 1 Crore or more. – Rule 3(1) (e).
6.
The
adv. must contain a reference on the conditions subject to which deposits shall
be accepted and the date on which it was approved by Board.
7.
Particulars
of advertisement are:
Ø Name of the Co.
Ø The date of incorporation.
Ø Business carried on by the Company
& its subsidiaries with details of units/branches.
Ø Brief particulars of the management.
Ø Name, add & occupation of
Directors.
Ø Profits Before and after making provisions for
tax, for the 3 financial yrs immediately preceding the date of Adv.
Ø Summarized financial positions as in 2
audited B/s immediately preceding the date of adv in form prescribed U/R 4 of
Companies (Acceptance of Deposits) Amendment Rules, 1978.
Ø The
amount of deposits to be raised.
Ø A statement mentioning that on the day
of adv Co. has no overdue deposit other than
unclaimed deposit.
Ø A Declaration to the effect-
(a) That the Co.
complied with the provisions of the rules.
(b) That compliance with the rules does not
imply repayment of deposit is guaranteed by the CG.
(c) That the deposit accepted by the
company is unsecured and ranking paripassu with other unsecured liabilities.
8.
Adv
should not contain any misstatement.
9.
Publish
the Adv in leading English newspaper & one Hindi newspaper. – Rule 4(1).
10.
Deliver
a copy of Adv signed by majority of Directors to ROC before publication. –Rule
4(4).
11.
Prepare
Application Form to be submitted by intending depositors and should contain
prescribed declaration regarding source of money by applicant.- Rule 5.
12.
Ensure
app form contains a clause giving fixed deposit holders freedom to nominate at
any time a person to whom deposit will vest in event of death. –Section 58A
(11).
13.
Issue
a receipt containing the prescribed details signed by Co.
officer on acceptance of deposits. –
Rule 6.
14.
Make entries in the Register of Deposits as
per rule 7.
15.
File
a return in form 62 with attachment return on deposit on or before 30th
June every year with ROC and furnish a copy simultaneously to RBI. - Rule 10.
16.
Deposit or invest , not less than 15% of
deposit amount maturing during the yr ending on 31st march next
following in any of the following ways within 30 April every year-
Ø Current or other deposit account with
any scheduled bank free from charge/lien.
Ø In unencumbered securities of CG or SG.
Ø In unencumbered securities mentioned in
clause (a) to (d) &( ee) of section 20 of Indian Trust Act,1882.
Ø In unencumbered bond issued by HDFC
Ltd, Bombay
17.
Ensure rate of interest does not exceed the
maximum rate prescribed by RBI that the NBFC can pay on their PD by annum at
monthly rests.
18.
Pay
brokerage to broker at a rate not exceeding:-
Ø 1% if deposit period is 1 yr.
Ø 1.5% if deposit period is 1-2 yrs.
Ø 2 % if deposit period is more than 2
yrs.
19.
The director or member from whom money is
received is required to furnish a declaration that amount is not giving out of fund
acquired by borrowing or accepting from others.
20.
If
co. intends to accept Deposit without inviting it shall before accepting the
deposits deliver to ROC for registration
a statement in lieu of Adv containing all particulars as per rule 4 (2) and
duly signed as per sub rule (4). – Rule 4A (1).
21.
Follow
the para 12 of SS4 for register of deposits.
By CS Sumedha Dublish
STATEMENT
IN LIEU OF ADVERTISEMENT AS PER RULE 4A(I) OF THE COMPANIES (ACCEPTANCE OF
DEPOSITS) RULES, 1975
|
FIXED
DEPOSIT SCHEMES
|
|
Deposits will be accepted
in the multiples
of Rs… ,000.00 only
|
Cumulative Deposit Scheme
|
||
|
Period
of deposit
|
Rate
of Interest (p.a.)
|
Yield*
(p.a.)
|
|
|
6 months
|
%
|
%
|
|
|
12 months
|
%
|
%
|
|
|
24 months
|
%
|
%
|
|
|
36 months
|
%
|
%
|
|
*
on monthly compounding
PARTICULARS
TO BE GIVEN AS PER RULE 4 OF THE COMPANIES (ACCEPTANCE OF DEPOSITS) RULES, 1975
|
A.
NAME OF THE
COMPANY
|
|
|
B.
DATE OF
INCORPORATION
|
|
|
C.
BUSINESS CARRIED ON BY THE COMPANY
AND ITS SUBSIDARIES WITH THE DETAILS OF BRANCHES OR UNITS, IF ANY
|
The Company is engaged in the business
|
|
D.
BRIEF PARTICULARS OF THE MANAGEMENT OF THE COMPANY
|
The Company is chaired by………………………………….. A team of
dynamic and experienced professionals drawn from various disciplines also
assists them.
|
E. NAME, ADDRESS
AND OCCUPATION OF THE DIRECTORS:
|
S. No.
|
Name
|
Occupation
|
Address
|
|
1.
|
|
Industrialist
|
|
|
2.
|
|
Industrialist
|
|
|
3.
|
|
Service
|
|
|
|
YEAR
ENDED
|
Profit Before Tax
(Rs. in lacs)
|
Profit After Tax
(Rs. in lacs)
|
Equity Dividend
(Rs. in lacs)
|
|
F. PROFITS OF THE COMPANY, BEFORE AND AFTER
MAKING PROVISION FOR TAX, FOR THREE FINANCIAL YEARS IMMEDIATELY PRECEDING THE
DATE OF THE STATEMENT
|
|
|
|
Nil
Nil
Nil
|
(Rs. In Lacs)
|
|
Sl.
No.
|
Particulars
|
As at
31.03.07
|
As at
31.03.06
|
|||||||||
|
G.
BRIEF PARTICULARS OF CONTINGENT
LIABILITIES
(Rs.in Lacs)
|
1
2
3
4
5
|
Outstanding
Bank Guarantees
Income
Tax for the financial year 2002-2003
Sales
Tax for Financial Year 2004-2005
Other
Claims Against the Company not acknowledged as debts.
Estimated
amount of contracts remaining to be executed on capital account and not
provided for (net of advances)
|
|
|
|||||||||
|
|
|
|
|
|
|||||||||
|
H. SUMMARISED FINANCIAL POSITION OF THE COMPANY FOR
THE YEARS 2007-08 AND 2006-07
|
Particulars
LIABILITIES
Share Capital
Reserves And
Surplus
Secured Loans
Unsecured Loans
Current
Liabilities and
Provisions
TOTAL
ASSETS
Fixed Assets
Investments
Current Assets,
Loans and
Advances
Deferred Tax Asset
(net)
TOTAL
|
As
at 31.03.08
(Rs.
In lacs)
……………………
|
As
at 31.03.07
(Rs.
In lacs)
…………….
|
6409.64
|
|
||||||||
|
I. THE
AMOUNT OF DEPOSITS, WHICH THE
COMPANY CAN RAISE UNDER THESE RULES AS AMENDED TO DATE.
|
a.
Upto 25% of the aggregate of the paid up
capital, free reserves and balance in the Profit and loss Account -from the
Public
b.
Upto 10% of the aggregate of the Paid up
share capital, free reserves and balance in the Profit and loss Account
against unsecured debentures or deposits from shareholders or deposits
guaranteed by Directors
TOTAL
|
______
___
|
|||||||||||
M.
As on the date of this
advertisement, the company has no public deposits with it since it never
accepted any public deposits before.
N. The
company hereby declares that:
i) That it has
complied with the provisions of the Companies (Acceptance of Deposits) Rules,
1975 as applicable to it.
ii)
That the compliance with the rules does not
imply that repayment of deposits is
guaranteed by the Central Government.
iii) That the
deposits accepted by the Company are unsecured and rank pari passu with other
unsecured liabilities.
iv)
That the Company is not in default in the repayment of any deposit or part
thereof and any interest thereupon in accordance with the terms and conditions
of such deposits.
This advertisement is issued on the
authority and in the name of the Board of Directors of the Company, text of
which was approved by
the Board of Directors at their meeting held on …………….2009.
The
text of the advertisement, signed by the duly constituted attorney of the
Directors on the Board of the Company, as constituted at the time the Board
approved this advertisement, has been filed with the Registrar of Companies, NCT
of Delhi & Haryana.
|
Place:
Date:
……………, 2009
|
By
order of the Board of Directors
For
Sd/-
Company Secretary
As
constituted attorney of Directors
|
|
Acceptance of
Deposits is subject to the terms and Conditions mentioned in the application
Form.
|
|
B
By
No comments:
Post a Comment