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of <h1>India Updates Deposit Rules: Extends Term Limits, Adds Non-Convertible Debentures, Mandates Credit Ratings & Disclosures.</h1> The Companies (Acceptance of Deposits) Amendment Rules, 2016, issued by the Government of India, modifies the existing Companies (Acceptance of Deposits) Rules, 2014. Key amendments include extending the term for certain financial instruments from five to ten years, introducing new categories of non-deposit instruments like non-convertible debentures, and specifying conditions under which companies can accept advances. The rules also mandate annual credit ratings for eligible companies and require disclosures in financial statements regarding funds received from directors. Additionally, the amendments allow companies to accept deposits without insurance until March 31, 2017, or until an insurance product becomes available.
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