https://www.taxtmi.com/manuals?id=423 The statute requires companies to invite or accept deposits only within prescribed limits and conditions under Section 58A, including issuance of a prescribed advertisement disclosing financial position and compliance with repayment and interest terms. Specified classes, such as banking companies and other notified entities, are exempt from most provisions. Depositor protections include nomination rights, guardian requirements for minor depositors, restrictions on transfer and addition of joint holders, and a Section 58AA obligation to notify the Tribunal of defaults by companies accepting deposits from small depositors. Contraventions attract company fines and criminal liability for officers in default. en-us Fri, 18 May 2012 12:58:00 +0530 Tue, 22 May 2012 16:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=423 The statute requires companies to invite or accept deposits only within prescribed limits and conditions under Section 58A, including issuance of a prescribed advertisement disclosing financial position and compliance with repayment and interest terms. Specified classes, such as banking companies and other notified entities, are exempt from most provisions. Depositor protections include nomination rights, guardian requirements for minor depositors, restrictions on transfer and addition of joint holders, and a Section 58AA obligation to notify the Tribunal of defaults by companies accepting deposits from small depositors. Contraventions attract company fines and criminal liability for officers in default. Manuals Companies Law Fri, 18 May 2012 12:58:00 +0530 https://www.taxtmi.com/manuals?id=423