(2)No company shall invite, or allow any other person to invite or cause to be invited on its behalf, any deposit unless-(a)such deposit is invited or is caused to be invited in accordance with the rules made under sub-section (1), [*](b)an advertisement, including therein a statement showing the financial position of the company, has been issued by the company in such form and in such manner as may be [prescribed, and] [Substituted by Act 5 of 1997, Section 4, for " prescribed" (w.e.f. 1.3.1997). ](c)[ 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 deposit.] [ Inserted by Act 5 of 1997, Section 4 (w.e.f. 1.3.1997).]
