Section 13 in The Companies (Acceptance of Deposits) Rules, 2014
13. Maintenance of liquid assets and creation of deposit repayment reserve account.
- Every company referred to in sub-section (2) of section 73 and every eligible company shall on or before the 30th day of April of each year deposit the sum as specified in clause (c) of the said sub-section with any scheduled bank and the amount so deposited shall not be utilized for any purpose other than for the repayment of deposits:[Provided that the amount remaining deposited shall not at any time fall below twenty per cent. of the amount of deposits maturing during the financial year.] [Substituted by Notification No. G.S.R. 612(E), dated 5.7.2018 (w.e.f. 31.3.2014).]
