Board resolution format for accepting deposits from members under Sections 73(2) and 179(3)(d), with DPT-1 circular, repayment reserve and DPT-3 by 30 June.
“RESOLVED THAT pursuant to Sections 73(2) and 179(3)(d) and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014 and the Articles of Association of the Company, and subject to the approval of the members of the Company by an Ordinary Resolution, consent of the Board be and is hereby accorded to invite, accept and renew deposits from the members of the Company up to an aggregate amount outstanding at any time of ₹[●] (Rupees [●] only), within the limit applicable to the Company under Rule 3(3) of the said Rules, for periods of not less than six months and not more than thirty-six months, at a rate of interest of [●]% per annum, on an [unsecured / secured] basis.
RESOLVED FURTHER THAT, save where the Company is a private company exempted from clauses (a) to (e) of Section 73(2), the draft circular in Form DPT-1 placed before the meeting be and is hereby approved for signature by a majority of the Directors and for filing with the Registrar of Companies not less than thirty days before its issue to the members, and the Company shall, on or before 30th April of each year, deposit not less than twenty per cent of the deposits maturing in the following financial year in a deposit repayment reserve account with a scheduled bank.
RESOLVED FURTHER THAT any Director and/or the Company Secretary of the Company be and is hereby severally authorised to issue the notice of the general meeting, maintain the register of deposits, file e-Form DPT-3 on or before 30th June of each year and do all such acts, deeds and things as may be necessary for giving effect to this resolution.”