AIM for CS

Quick Reference to "Company to contribute to bona fide and Charitable Funds"
i.e. Section 181 of Companies Act, 2013

Points:-

1. Without Approval of Members in the General meeting:-

Total Contribution is upto 5% of Companies Average Net Profit for three immediately preceding F.Y.

2. With the Approval members in General meeting:-

Total Contribution is More than 5% of Companies Average Net Profit for three immediately preceding F.Y.

3. It is Different from Political Contribution and Contribution to National Defence Fund.

Quick Reference to "Deposits:-

Legal Provision:-

Section 73 to 76A of Companies Act, 2013

Companies Acceptance of Deposits Rules, 2014.

Ceiling Limit/ Quantum for acceptance of Deposits:-

1. Private Company:-

From members:-

Upto 100% of aggregate paid up capital + Free reserves+ securities premium.

From Public:-

Prohibited

2. Public Company ( other than eligible company) :-

From members:-

Upto 35% of aggregate paid up capital + free reserves.

From Public:-

Prohibited.

3. Eligible company:-

From members:-

Upto 10% of aggregate paid up capital + Free reserves.

From Public:-

Upto 25% of aggregate paid up capital + free reserves.

4. Government Company:-

From members:-

Quantum not specified. ( Not allowed)

From Public:-

Upto 35% of aggregate paid up capital + Free reserves.

Note:-
Eligible company means a public company having Net worth of minimum 100 cr ₹ or Turnover of minimum 500 cr ₹ .