Sujata Tyagi
(Corporate Finance and Secretarial Compliance)
(29 Points)
Replied 28 May 2018
*Provisions of the Companies Act, 2013:
DPT-1 (circular or a circular in the form of advertisement to invite deposits) is governed by the provision of Companies (Acceptance of Deposit Rules) 2014, Rule No. 4 (5) Form and Particulars of Advertisements or Circulars:
“No circular or a circular in the form of advertisement shall be issued by or on behalf of a company unless, not less than thirty days before the date of such issue, there has been delivered to the Registrar for registration a copy thereof signed by a majority of the directors of the company as constituted at the time the Board approved the circular or circular in the form of advertisement, or their agents, duly authorised by them in writing.”
Explanation:
If the circular is to be issued on 2nd July 2018, Monday, then the circular should have been filed with the Registrar on or before 1st June 2018, Friday.
The flow of events:
Answer to your question:
The words of the rule are “not less than 30 days before the date of such issue”, so at least 30 days should have passed after filing with Registrar and before the circular is issued to all the members.
As per your question ‘within 30 days ‘will contradict the provisions of Rule 4(5).
Disclaimer: Opinion expressed here is my personal opinion and should not be construed as legal advice for any purpose what so ever it may be.
Aditi
(Student)
(389 Points)
Replied 28 May 2018
vaishali singh
(trainee)
(395 Points)
Replied 30 May 2018
Aditi
(Student)
(389 Points)
Replied 30 May 2018
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