MCA vide notification date June 13, 2017 has issued new exemptions to private companies in exercise of the powers conferred by clauses (a) and (b) of subsection (1) of section 462 and in pursuance of sub-section (2) of section 462 of the Companies Act, 2013

Deposits from Members

Companies are permitted to accept deposits from its members subject to fulfillment of certain conditions. These conditions are laid down in section 73 of the Act shall not be applicable to private companies which accepts monies not exceeding 100% of aggregate of the paid up share capital, free reserves and security premium accounts etc.