COMPANY LAW - VALIDITY OF ADVERTISEMENT
This query is : Resolved
30 September 2010
Dear experts
Can any one let me understand the concept of validity of advertisement issued for inviting public deposits with a short and simple example.
Thanks in advance...
Can any one let me understand the concept of validity of advertisement issued for inviting public deposits with a short and simple example.
Thanks in advance...
01 October 2010
Validity period of the advertisement issued
Rule 4(3) of deposit rules, 1975, provides that the advertisement issued at any time will be valid only up to six months from the conclusion of the financial year of the company in which the advertisement was issued.
In other words, an advertisement will be valid till the expiry of the annual general meeting of the company for that year if held within the prescribed time or ought to have been held so and a fresh advertisement shall have to be made for accepting deposits in each succeeding financial year, provided there is no delay on the part of the company to hold the annual general meeting in terms of section 166 of the Act.
Rule 4(3) of deposit rules, 1975, provides that the advertisement issued at any time will be valid only up to six months from the conclusion of the financial year of the company in which the advertisement was issued.
In other words, an advertisement will be valid till the expiry of the annual general meeting of the company for that year if held within the prescribed time or ought to have been held so and a fresh advertisement shall have to be made for accepting deposits in each succeeding financial year, provided there is no delay on the part of the company to hold the annual general meeting in terms of section 166 of the Act.
Message likes :
1 times
01 October 2010
Thanks Ankur sir for the reply....
But in module it is given like this
valid upto earlier of the following
1. up to six months from the conclusion of the financial year of the company in which the advertisement was issued.
2. the date on which the balance sheet is laid down in next AGM.
3. if AGM in a particular year is not held the last date on which it should have been held in accordance with section 166 read with section 210.
so can u pls explain it with an example...
i am not getting it....
But in module it is given like this
valid upto earlier of the following
1. up to six months from the conclusion of the financial year of the company in which the advertisement was issued.
2. the date on which the balance sheet is laid down in next AGM.
3. if AGM in a particular year is not held the last date on which it should have been held in accordance with section 166 read with section 210.
so can u pls explain it with an example...
i am not getting it....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Defective Return - Tds on advance
- Fixed Deposit Claim Relinquishment by the Nominee
- TDS RATE ON RENT PAID TO NRI
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- GSTR 9 23-24
- Issue of gst e invoice
- Gstr 9 2023-24
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
