TaxTMI 
TaxTMI 
General provisions regarding repayment of deposits.
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....riod for which such deposit was accepted by the Company, the rate of interest payable by the company on such deposit, shall be reduced by [3][one per cent] from [4][the rate which the company would have paid had the deposit been accepted for the period for which such deposit had run] and the company shall not pay interest at any rate higher than the rate as so reduced: [5][Provided that nothing c....
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....e period of emergency declared under Article 352 of the Constitution: [6][Provided further that where a company permits a depositor to renew his deposit, before the expiry of the period for which such deposit was accepted by the company, for availing of the higher rate of interest, the company shall pay interest to such depositor as higher rate if-- (i) such deposit is renewed in accordance wit....
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....--------------------------------- Notes:- [1] Substituted by the Companies (Acceptance of Deposits) Amendment Rules, 1975 w.e.f. 18-9-1975 vide GSR 524(E), dated 18-9-1975. [2] Renumbered as "(1)" by the Companies (Acceptance of Deposits) Second Amendment Rules, 1992, w.e.f. 19-10-1992 vide GSR 814(E), dated 19-10-1992. [3] Substituted by the Companies (Acceptance of Deposits) Amendment Rules,....