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MCA allows Cos. to create repayment reserves of deposits maturing during F.Y. 20-21 till Dec 31, 2020

October 5, 2020
MCA has further extended the timelines till Dec 31, 2929 for creating the deposit repayment reserve of 20% of deposits maturing during the financial year 2020-21. Also the requirement under rule 18 of the Companies (Share Capital & Debentures) Rules, 2014 to invest or deposit at least 15% of amount of debentures maturing in specified methods of investments or deposits is also extended till Dec 31, 2020.
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