Acceptance of deposits subject to statutory eligibility and prescribed procedural safeguards including member resolution, disclosure, and funding requirements.
The Companies Act, 2013 and accompanying Rules define deposits and list exclusions, then regulate acceptance in two streams: deposits from members (requiring ordinary resolution, prescribed circulars and filings, advertising, designated bank funding, insurance/security and certification of non-default) and deposits from the public (permitted only for eligible companies meeting specified net worth and turnover criteria and RBI conditions). The regime prohibits certain repayable deposit types, exempts defined entities, and imposes statutory aggregate ceilings on deposits. (AI Summary)

Secretarial standards compliance: mandatory board meeting procedures set notice, quorum, attendance and minutes requirements for companies.
Secretarial Standards prescribe mandatory procedures for convening and conducting board and committee meetings, including authority to call and convene meetings, chairman adjournment powers, prohibition on holding meetings on national holidays, serial numbering and electronic attendance indications. Notices and agendas must be in writing, delivered to registered addresses or nominated modes, ordinarily seven days before meetings, and include agenda notes and draft resolutions; matters outside the agenda require chairman and majority director consent. Quorum rules, inclusion of video conferencing for quorum, exclusion of interested directors, attendance registers, minutes maintenance and timelines, and circulation and validity of resolutions by circulation are specified. (AI Summary)

Corporate meetings: statutory requirements for convening and conducting meetings, notice, quorum, resolutions and penalties.
Explains statutory rules for convening and conducting corporate meetings: classification into AGMs, EGMs and board/committee meetings; AGM timing, business-hour constraints and limited extensions; member requisition rights for EGMs including self-convening when boards default and cost recovery from defaulting directors; board meeting frequency and video-conference participation; notice requirements and shorter-notice exceptions; requirements for chairman, quorum and resolution types; tribunal power to order meetings and penalties for failures to convene. (AI Summary)