Repayment of deposits, etc., accepted before commencement of this Act
Section 74 of the Companies Act, 2013 deals with repayment of deposits, etc., accepted before commencement of this Act. Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due at any time thereafter, the company shall (a) file, within a period of three months fro The Act came into force on 01 Apr 2014.
(1) Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due at any time thereafter, the company shall
(a) file, within a period of three months from such commencement or from the date on which such payments, are due, with the Registrar a statement of all the deposits accepted by the company and sums remaining unpaid on such amount with the interest payable thereon along with the arrangements made for such repayment, notwithstanding anything contained in any other law for the time being in force or under the terms and conditions subject to which the deposit was accepted or any scheme framed under any law; and
1[(b) repay within one year from such commencement or from the date on which such payments are due, whichever is earlier.
Provided that renewal of any such deposits shall be done in accordance with the provisions of Chapter V and the rules made thereunder.]
(2) The Tribunal may on an application made by the company, after considering the financial condition of the company, the amount of deposit or part thereof and the interest payable thereon and such other matters, allow further time as considered reasonable to the company to repay the deposit.
(3) If a company fails to repay the deposit or part thereof or any interest thereon within the time specified in sub-section (1) or such further time as may be allowed by the Tribunal under sub-section (2), the company shall, in addition to the payment of the amount of deposit or part thereof and the interest due, be punishable with fine which shall not be less than one crore rupees but which may extend to ten crore rupees and every officer of the company who is in default shall be punishable with imprisonment which may extend to seven years or with fine which shall not be less than twenty-five lakh rupees but which may extend to two crore rupees, or with both.
Section 74, The Companies Act, 2013 (Act 18 of 2013).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 2
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
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… Since, petitioner -Pramod Kishore Shrivastava was a Director in the Company having full knowledge of all decisions/actions taken through Board process, is equally liable for all the cause of Company including criminal liability for violation of provisions of Section 74 of Companies act, 2013. Trial would decide the respective roles of accused persons and at this stage, no case is made out for interference. He prayed for dismissal of the petitioner. 20. Heard learned counsel for the parties at length and perused the documents appended thereto. 21. This is a case …
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… while as per Clause 4, the Letter of Assurance shall remain valid for a period of 12 months from the date of issuance of Letter of Assurance and shall stands annulled upon expiry of such period. 6. Learned counsel for the petitioner has further submitted, that Commitment Guarantee cannot be forfeited in view of Section 74 of the Companies Act, which reads as follows: > "74. Repayment of deposits, etc., accepted before commencement of this Act. – (1) Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on …
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… Sub-section (10) provides for the consequence of failure to comply with any order made by the CLB under sub-section (9). It provides for punishment of imprisonment extendable up to three years and also fine of not less than Rs.500/- for every day during which such non-compliance continues. Section 74 of the Companies Act, 2013 makes similar provisions. Under sub-section (2) thereof, the CLB has power to allow extended time of repayment of deposits to the company. If the Company fails to repay the deposits within time or such extended time, the company is liable to pay fine and its officers in default shall also …
Made under this section, and citing it
2 instruments state that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
Another 5 instruments name this provision in its title or its text without being made under it.
- Clarification on repayment of deposits accepted by the companies before the commencement of the Companies Act, 2013 under section 74 of the said Act.Circular 2015
- Commencement of provisions of sub sections (2) and (3) of section 74Notification 2014
- Commencement Notification dated 09.02.2018Notification 2018
- Clarification regarding filing of Form DPT4 under Companies Act, 2013.Circular 2014
- The Companies (Removal of Difficulties) Fourth Order, 2014.Order 2014
Questions about Section 74
What does Section 74 of the Companies Act deal with?
Section 74 of the Companies Act is headed "Repayment of deposits, etc., accepted before commencement of this Act". Where in respect of any deposit accepted by a company before the commencement of this Act, the amount of such deposit or part thereof or any interest due thereon remains unpaid on such commencement or becomes due at any time thereafter, the company shall (a) file, within a period of three months fro
How do I find court cases under Section 74 of the Companies Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Companies Act 74, section 74 Companies Act, section 74 of the Companies Act. People searching for it also type companies act 2013 section 74. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 74 of the Companies Act, and has it changed?
2 other provisions in this corpus refer back to it. The rules and notifications made under it are where it actually bites, and there are 2: most recently Companies (Acceptance of Deposits) (2018), then Companies (Acceptance of Deposits) Amendment Rules, 2018. (2018).
When did Section 74 of the Companies Act come into force?
Section 74 of the Companies Act, cited as Companies Act 74, came into force on 01 Apr 2014, having been enacted on 29 Aug 2013. It is in force as at the date shown on this page.
Other sections of this Act
- 2. Definitions5089 words
- 143. Powers and duties of auditors and auditing standards1867 words
- 230. Power to compromise or make arrangements with creditors and members1432 words
- 232. Merger and amalgamation of companies1416 words
- 149. Company to have Board of Directors1403 words
- 217. Procedure, powers, etc., of inspectors1390 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 14 Oct 2026. This page is not a substitute for legal advice.