Ministry of Finance and Company Affairs has issued a notification on April 3, 2003, amending the Companies (Acceptance of Deposits) Rules, 1975. The amendment specifies that any loan received by companies directly owned by the National Dairy Development Board (NDDB) or through its subsidiaries will be exempt from deposit regulations under the Companies Act, 1956. This change was made in consultation with the Reserve Bank of India and comes into force upon publication in the Official Gazette.
MINISTRY OF FINANCE AND COMPANY AFFAIRS
DEPARTMENT OF COMPANY AFFAIRS
NOTIFICATION
NEW DELHI, THE 3rd APRIL, 2003
G.S.R. 300(E) – In exercise of the powers conferred by section 58A read with section 642 of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation with the Reserve Bank of India, hereby makes the following rules further to amend the Companies (Acceptance of Deposits) Rules, 1975, namely: –
1. (1) These rules may be called the Companies (Acceptance of Deposits) Amendment Rules, 2003.
(2) They shall come into force on the date of their publication in Official Gazette.
2. In the Companies (Acceptance of Deposits) Rules, 1975, in rule 2, in sub-rule (b), after clause (xi), the following clause shall be inserted, namely: –
“(xii) any amount received as loan from the National Dairy Development Board by the companies owned by it directly or through its subsidiary companies.”
(F.NO. 5/12/2001-CL.V)
RAJIV MEHRISHI
Joint Secretary
Foot Note:- The Companies (Acceptance of Deposits ) Rules, 1975 published vide Notification No. G.S.R. 43(E) dt. 3-2-1975, Part II, Section 3, Sub-section (i) of the Gazette of India (Extraordinary) dated 3-2-1975, subsequently amended by Notifications No :-
| S.O.524(E) dated 18.9.1975 | |
| S.O.684(E) dated 29.11.1975 | |
| G.S.R. 427(E) dated 29.6.1976 | |
| G.S.R. 820(E) dated 24.9.1976 | |
| G.S.R. 965(E) dated 29.12.1976 | |
| G.S.R. 385(E) dated 17.6.1977 | |
| G.S.R. 386(E) dated 17.6.1977 | |
| G.S.R. 424(E) dated 27.6.1977 | |
| G.S.R. 793(E) dated 20.12.1977 | |
| G.S.R. 200(E) dated 30.3.1978 | |
| G.S.R. 252(E) dated 27.4.1978 | |
| G.S.R. 341(E) dated 29.6.1978 | |
| G.S.R. 378(E) dated 17.7.1978 | |
| G.S.R. 586(E) dated 21.12.1978 | |
| G.S.R. 109(E) dated 21.3.1980 | |
| G.S.R. 185(E) dated 1.4.1980 | |
| G.S.R. 380(E) dated 24.6.1980 | |
| G.S.R. 435(E) dated 18.7.1980 | |
| G.S.R. 546(E) dated 24.9.1980 | |
| G.S.R. 187(E) dated 20.3.1981 | |
| G.S.R. 44(E) dated 12.1.1982 | |
| G.S.R. 286(E) dated 19.3.1985 | |
| G.S.R. 372(E) dated 19.4.1985 | |
| G.S.R. 482(E) dated 5.6.1985 | |
| G.S.R. 7(E) dated 2.1.1986 | |
| G.S.R. 358(E) dated 1.4.1987 | |
| G.S.R. 620(E) dated 1.7.1987 | |
| G.S.R. 850(E) dated 12.10.1987 | |
| G.S.R. 551(E) dated 7.6.1990 | |
| G.S.R. 39(E) dated 10.1.1992 | |
| G.S.R. 814(E) dated 19.10.1992 | |
| G.S.R. 744(E) dated 10.12.1993 | |
| G.S.R. 767(E) dated 1.12.1995 | |
| G.S.R. 385(E) dated 24.5.2001 | |
| G.S.R. 873(E) dated 28.11.2001 |
