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    Inordinate delay in registering transfers, endorsing calls, sub‑dividing and consolidating share certificates and returning defective documents
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    Timely processing of share documents: listed companies must return transfers and defective papers within short prescribed periods to protect liquidity.
    Government directs recognised stock exchanges to ensure listed companies complete registration of transfers, endorsement of calls and subdivision or consolidation of share certificates within two to three weeks of lodgement and, in any event, within the one month period of the listing agreement. Defective or incomplete documents must be scrutinised promptly and returned forthwith, and at latest within one week, with a memo stating the defect. Share certificates for new capital, rights or bonus issues must be issued in the market trading unit. Exchanges should require companies to adopt arrangements and delegate authority where necessary to secure compliance.
    Annual general meeting ‑ Whether for purposes of section 159 the time within which it is required to be held is governed solely by section 166
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    Time for Annual General Meeting governs AGM deadline; administrative extensions may be allowed but statutory deadline enforced.
    The time for holding an annual general meeting is governed solely by the statutory deadline for the meeting and not by the company's financial year; Registrars should apply that statutory deadline strictly for legal proceedings or additional fees. Although accounts being unready do not legally justify an extension, Registrars may, for administrative convenience, grant extensions beyond the six month post year end period; if a company holds its meeting within the statutory time and files its annual return within the prescribed period after the meeting, no default action or additional fee should be imposed.
    Public Deposits - Acceptance of ‑ Scope and provision of Companies (Acceptance of Deposits) Rules, 1975
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    Public deposit limits: deposits validly accepted remain repayable at maturity despite later capital depletion; part payments do not renew balances.
    Where public deposits were validly accepted when within the statutory ceiling, they must be repaid according to their contractual maturity dates even if later losses reduce the ceiling so that total deposits exceed limits; subsequent exceedance due to reduced paid up capital and reserves does not amount to contravention. A company may make part payments to depositors who consent where no contractual prohibition exists, but such payments do not automatically renew or change the contractual maturity of the outstanding balance unless mutually agreed.
    Public Deposits - Acceptance of ‑ Scope and provision of Companies (Acceptance of Deposits) Rules, 1975 explained
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    Vernacular advertisement requirement: notices in vernacular newspapers must be published in that paper's language to comply.
    Advertisements placed in vernacular newspapers under the Companies (Acceptance of Deposits) Rules must be printed in the language of that newspaper; publishing in a different language in a vernacular paper defeats the purpose of the rule and does not comply with the requirement.

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      Companies Law

      Public Deposits - Acceptance of ‑ Scope and provision of Companies (Acceptance of Deposits) Rules, 1975 explained

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      Vernacular advertisement requirement: notices in vernacular newspapers must be published in that paper's language to comply.
      Advertisements placed in vernacular newspapers under the Companies (Acceptance of Deposits) Rules must be printed in the language of that newspaper; ... Summary

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      ActsIncome Tax