THE GAZETTE OF INDIA: EXTRAORDINARY

[PART II—SEC. 3 (i)]

MINISTRY OF I AW, JUSTICE ANt) COMPANY

AFFAIRS

(Department of Company Affairs)

NOTIFICATION

New Delhi, the 28th November, 2001

G.S.R. 873(E).—In exercise of the powers conferred

by section 58A read with section 642 of the Companies

Act, 1956 (] of 1956), the Central Government, in

consultation with Reserve Bank of India, hereby makes the

following rules further to amend the Companies

(Acceptance of Deposits) Rules, 1975, namely :•—

(1) These rules may be called the Companies

(Acceptance of Deposits) Third Amendment Rules, 2001.

(2) They shall come into force on the date of

their publication in the Official Gazette.

2. In the Companies (Acceptance of Deposits)

Rules, 1975,—

(a)

in rule 2, after clause (d), the following clause

shall be inserted, namely :—

'(e)^L'net owned fund" has the same meaning

as assigned to it in the Reserve Bank of India

Act, 1934(2 of 1934)';

(b)

in rule 3, in sub-rule (1), after clause (d), the

following clause shall be inserted, namely:—

' '(e) "no company with a hQt owned fund of

less than rupees one crorc shall invite public

deposits" ';

(c)

after rule 8, the following rule shall be inserted,

namely

"8A Penal rate of interest.—A penal

rate of interest of eighteen per cent shall

be paid for the overdue period in case of

public deposits matured and claimed bui

remaining unpaid. In case of deposil

made by a small depositor, the penal rate

of interest shall be twenty per cent

compoundable on an annual basis

Explanation—For the purposes of this*

rule, the expression "a small depositor"

has the same meaning as assigned to it

in the explanation to Section 58AA of

the Act:'

[No. 1/17/2000-CL.V]

A. RAMASWAMY, Jt. Secy.

FOOT NOTE; The Companies (Acceptance of Deposits)

Rule, 1975 published vide Notification

No. G.S.R. 43(E) dt. 3-2-1975, Part II,

Section 3, Sub-section (i) of the Gazette

of India (Extraordinary) dated 3-2-1975,

subsequently amended by Notification

Mo :—

10.

11.

12.

13.

14.

15.

16.

17.

18.

19.

20.

21.

22.

23.

24.

25.

26.

27,

28.

29,

30.

31.

32.

33.

34.

35.

36.

S.O.524(E) dated 18.9.1975

S.0.684(E)dated 29.11.1975

G.S.R. 427(E) dated 29.6,-1976

G.S.R. 820(E)daled24.9.1976

G.S.R. 965(E) dated29.12.1976

G.S.R. 385(E) dated 17.6.1977

G.S.R. 386<E) dated 17.6.1977

G.S.R. 424(E) dated 27.6.1977

G.S.R. 793(E) dated 20.12.1977

G.S.R. 200(E) dated 30.3.1978

G.S.R. 252(E) dated 27.4.1978

G.S.R, 341(E)dated29.6.1978

G.S.R. 378(E) dated 17.7.1978

G.S.R. 586(E) dated 21.12.1978

G.S.R. 109(E)dated21.3.1980

G.S.R. 185(E) dated 1.4.1980

G.S.R. 38O(E) dated24.6.1980

G.S.R. 435(E) dated 18.7.1980

G.S.R. 546(E) dated 24.9.1980 •

G.S.R. 187(E)dated20,3.1981

G,S.K44(E) dated 12.4.1982

GSR. 286(E) dated 19.3.1985

G.S.R. 37203) dated 19.4.1985

G.S.R.482(E) dated 5.6.1985

G.S.R7(E) dated 2.1.1986

G.S.R.358(E) dated 1.4.1987

G.S.R. 620(E) dated 1.7,1987

G.S.R. 850(E) dated 12.10.1987

G.S.R. 551(E) dated7.6.1990

G.S.R39(E) dated 10.1.1992

G.SH 814(E) dated 19,10.1992

G.S.R. 744(E) dated 10.12.1993

G.S.R. 767(E) dated 1.12,1995

&S1L 155(E) dated 19.3,1997

G.S.R 385(E)dated25.5.2001

G.S.R. 689(E) dated25.9,2001

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