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of <h1>Certain Non-Banking Companies Exempt from Section 58A, Companies Act 1956, for Commercial Paper Deposits from Jan 1, 1990.</h1> The Central Government, under the Companies Act, 1956, exempts certain non-banking companies from sub-sections (1) to (7) of section 58A regarding deposits received through commercial paper issuance. This exemption applies to companies meeting the Reserve Bank of India's criteria as outlined in the Non-Banking Companies (Acceptance of Deposits through Commercial Paper) Directions, 1989. These companies must adhere to RBI's terms and conditions and disclose in their annual accounts the maximum amount raised and outstanding during the financial year. This notification is effective from January 1, 1990.
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