The Ministry of Corporate Affairs vide its notification dated 19th June 2020 has extended the timeline for compliance of requirement under Section 73(2)(c) of Companies Act 2013 to create the deposit repayment reserve of 20% of deposits maturing during the financial year 2020-21 before 30th April 2020 which has now allowed to be complied within 30th September 2020.
Further, the compliance requirement to invest or deposit at least 15% of the amount of debentures maturing in specified methods of investments or deposits before 30th April 2020, maybe complied within 30th September 2020.
Click here to read the notification.
