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of <h1>Deadline Extended for Compliance with Companies Act Section 73(2)(C) and Rule 18 Due to COVID-19 Impact.</h1> The circular from the Ministry of Corporate Affairs extends the deadline for companies to comply with certain financial requirements due to COVID-19. Specifically, the deadline to create a deposit repayment reserve of 20% under Section 73(2)(C) of the Companies Act 2013, and to invest or deposit 15% of the amount of debentures under Rule 18 of the Companies (Share Capital and Debentures) Rules 2014, is extended from June 30, 2020, to September 30, 2020. All other requirements remain unchanged, as approved by the competent authority.
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