Refund of deposit under section 160 of the Companies Act, 2013 in certain cases.

Posted Date : 15-Oct-2014 , 08:25:25 am | Posted By CASANSAAR print

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Ctarity has been sought by companies registered under section 8 oI theCompanies Act, 2013 (corresponding to section 25 of Companies Act, 1956)about the manner in which the amount of deposit of rupees one lakh receivedby them under sub-section (l) of section 160 of the Companies Act, 2013 (Act)is to be handled if the depositor fails to secure more than twenty hve per centof the total valid votes. It has been noted that the relevant provision is silent onsuch issue.

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