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of <h1>Companies Must Appoint Trustees for Deposits Per Companies (Acceptance of Deposits) Rules, 2014; Follow Form DPT-2 Guidelines</h1> Companies inviting secured deposits under the Companies (Acceptance of Deposits) Rules, 2014, must appoint one or more trustees for depositors to create security for the deposits. Trustees must provide written consent, which must be prominently stated in any circular or advertisement. A deposit trust deed in Form DPT-2 must be executed at least seven days prior to issuing such documents. Trustees cannot be company insiders, have debts, or significant financial ties to the company. Trustees cannot be removed from office before their term expires without board consent, requiring the presence of at least one independent director if applicable.
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