New Updates of MCA companies act 2013 cs December 2016 exam
Most appropriate changes were made by MCA yesterday to the deposit rule:
The following things are not deposits henceforth.
(1) Now we can issue compulsorily convertible debenture up too 10 years
(2) NCD unsecured listed at stock exchange
(3) Now it should be non interested bearing received and held trust
(4) Advance received for providing services in form of warranty or maintenance contract. the services should be provided as per common business practice or within 5 years whichever is less
(5) Amount received from sectoral regulatory as per instruction of Govt.
(6) Advance received by the publishers
(7) Subscription amount received by the Chit Companies
(8) Amount received by the collective investment scheme as SEBI
(9) Amount received by start-up companies Rs. 25 lakhs or above by issuing convertible note into equity or refundable
(10) Amount received by a company from alternative investment funds/ domestic venture capital funds/mutual fund registered with SEBI
At financial statements, the disclosure to be made about amount received from Directors and relatives
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