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of <h1>Clarification on Companies (Acceptance of Deposits) Rules: Rule 2(b)(ix) Excludes Certain Joint Deposits and Partner Lending Firms.</h1> The circular clarifies the interpretation of the Companies (Acceptance of Deposits) Rules, 1975, specifically rule 2(b)(ix). It states that deposits received by a company in the joint names of a director and a non-director, or in a private company, a shareholder and a non-shareholder, are not covered by this rule. Additionally, if a lending firm has partners who are not directors of the borrowing company, the deposits from such firms also do not fall under this rule. This clarification supersedes the previous circular issued in 1976.
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