From inside the few words, a man usually do not pay the borrowed funds otherwise deposit for the bucks, should your count are Rs
“(c) depositing, towards the or up until the thirtieth day’s April annually, instance sum and this should never be below twenty %. of your own level of their places maturing from inside the after the financial season and you will stored in an arranged financial during the a special lender account becoming called put installment put aside membership;”
“particularly dumps and you can in which a default had happened, the company generated an excellent the newest default and a time period of four years had lapsed once the big date of creating an effective this new default”
Exceptions/ Modifications/ Changes
step one. In the eventuality of personal team – Term (a) to help you (e) away from Sandwich-part dos regarding Section 73 will not apply at private Organizations which allows from the participants monies maybe not surpassing a hundred for every penny, of aggregate of your own paid up express financial support and free reserves, and for example organization should document the information out-of monies very acknowledged towards Registrar such fashion because the .
dos. In the eventuality of Given IFSC Societal Team – Clauses (a) so you can (e) regarding subsection (2) from part 73 Shall not apply at a specified IFSC societal business hence accepts from its users, funds perhaps not exceeding one hundred per cent. off aggregate of your own paid-up share funding and you may totally free instant payday loans Oregon reserves, and you will particularly providers shall document the facts regarding monies so accepted toward Registrar this kind of manner while the .
step 3. In case of individual providers – Clause (a) to help you (e) out of Sandwich-area 2 from Area 73 shall perhaps not affect individual Businesses – Notification Old 13th