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of <h1>Director's Letter Enough for Authorizing Agents to Accept Public Deposits Under Companies Rules, 1975. No Power of Attorney Needed.</h1> Circular No. 23/75, dated 25-9-1975, clarifies that the authorization for accepting public deposits under the Companies (Acceptance of Deposits) Rules, 1975, does not require an agent to be authorized through a power of attorney by a director. Instead, a letter signed by the director is sufficient for such authorization. This provision aims to simplify the process by allowing a less formal method of granting authority, thereby facilitating compliance with the rules governing the acceptance of public deposits by companies.
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