Advertisement validity under Companies (Acceptance of Deposits) Rules: remains through the financial year; prior profits and dividend disclosures required. An advertisement for soliciting deposits issued during a company's financial year remains effective until the close of that financial year, allowing receipt of deposits through that period. Any such advertisement must disclose the company's profits and dividend figures for the financial years immediately preceding the date of the advertisement as required by the 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.
Advertisement validity under Companies (Acceptance of Deposits) Rules: remains through the financial year; prior profits and dividend disclosures required.
An advertisement for soliciting deposits issued during a company's financial year remains effective until the close of that financial year, allowing receipt of deposits through that period. Any such advertisement must disclose the company's profits and dividend figures for the financial years immediately preceding the date of the advertisement as required by the Rules.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
