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of <h1>Section 73: Companies Must Follow Chapter V Rules for Public Deposits; Excludes Banks and NBFCs.</h1> Section 73 of the Companies Act, 2013 prohibits companies from inviting, accepting, or renewing public deposits unless done in accordance with Chapter V. This restriction does not apply to banking and non-banking financial companies. Companies may accept deposits from members following a general meeting resolution, subject to prescribed rules, including issuing a financial position circular, maintaining a deposit repayment reserve, and certifying no default in past repayments. Unsecured deposits must be clearly labeled. Deposits must be repaid with interest as agreed, and failure to do so allows depositors to seek Tribunal intervention. The deposit repayment reserve is solely for deposit repayments.
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