Applicability of deposit provisions to eligible companies clarifies continuing repayment obligations and fresh deposit compliance. The rule applies the statutory deposit acceptance and repayment obligations mutatis mutandis to eligible companies; companies repaying deposits accepted under prior law will be deemed to meet the specified compliance requirement if they continue to repay principal and interest on due dates in accordance with original terms and comply with the Act and these rules, while fresh deposits must comply with Chapter V and these rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Applicability of deposit provisions to eligible companies clarifies continuing repayment obligations and fresh deposit compliance.
The rule applies the statutory deposit acceptance and repayment obligations mutatis mutandis to eligible companies; companies repaying deposits accepted under prior law will be deemed to meet the specified compliance requirement if they continue to repay principal and interest on due dates in accordance with original terms and comply with the Act and these rules, while fresh deposits must comply with Chapter V and these rules.
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