Préstamos o depósitos de miembros o accionistas | Ley de Sociedades de 2013 - Parte 1

Companies are always in need of funds and it keeps on looking for various sources of funds such as share capital, Loans from banks or Financial institutions, loans from other persons etc. Issuance of shares involves a lot of compliances and it compromises shareholding as well. Similarly, loans from banks and NBFC is subject to detailed compliances, availability of mortgage or security and timely payment of interest and principal amount. Therefore, companies prefer acceptance of loans from other persons.

However, Companies Act, 2013 have made acceptance of loans from the general public or members more stringent and complied. Companies are required to follow provisions of Companies Act, 2013 before and after acceptance of such loans.

Provisions related to acceptance of deposits are given in Chapter V-Acceptance of Deposits by Companies of Companies Act, 2013 read with The Companies (Issue of Global Depository Receipts) Rules, 2014

This article discusses in detail provisions related to acceptance of Deposits from members or the public.

1. Meaning of Deposits

• As per Section 2(31) of Companies Act, 2013, Deposits include any amount received by way of deposit or loan or in any other form by a company. 

2. Transactions not considered as Deposits

As per per Section 2(31) of Companies Act, 2013 read with Rule 2(c) of The Companies (Acceptance of Deposits) Rules, 2014, following transactions shall not be considered as Deposits:

1. any amount received from the Central Government or a State Government or amount received from any other source whose repayment is guaranteed by the Central Government or a State Government;
2. Any amount received from a local authority or statutory authority;
3. Any amount received from foreign Governments, foreign or international banks, multilateral financial institutions etc.
4. Any amount received as a loan or facility from any banking company;
5. Any loan or or financial assistance received from Public Financial Institutions;
6. Any amount received against issue of commercial paper or any other instruments;
7. any amount received by a company from any other company;
8. Any amount received and held towards subscription to any securities, including share application money or advance towards allotment of securities pending allotment, so long as such amount is appropriated only against the amount due on allotment of the securities applied for;
9. any amount received from director of the company or a relative of the director of the Private company. However. Director or relative is required to give a declaration that such amount is not given out of funds acquired by him by borrowing or accepting loans or deposits from others.
10. Amount raised by issuance of bonds or debentures secured by a first charge;
11. Amount received from an employee of the company not exceeding his annual salary under a contract of employment with the company in the nature of non-interest bearing security deposit;
12. Any non-interest bearing amount received and held in trust;
13. any amount received for the purpose of business of company as:
    • Advance against supply of goods or services. Such advance is required to be appropriated against supply of goods or services within a period of 365 days from the date of acceptance of such advance.
    • Advance against consideration for an immovable property under an agreement or arrangement. Such advance should be adjusted against such property in accordance with the terms of agreement or arrangement;
    • Security deposit for the performance of the contract for supply of goods or provision of services;
    • Advance received under long term projects for supply of capital goods
    • Advance received for providing future services in the form of a warranty or maintenance contract. However, period of providing such services does not exceed the period prevalent as per common business practice or five years, whichever is less.
    • Advance received and as allowed by any sectoral regulator or in accordance with directions of Central or State Government;
    • Advance for subscription towards publication, whether in print or in electronic to be adjusted against receipt of such publications;

However, amount specified in (i), (ii) and (iv) above becomes refundable due to non-availability of necessary permission or approval, then the amount received shall be deemed to be a deposit under these rules:

14. Amount brought in by the promoters by way of unsecured loan in pursuance of the stipulation of any lending financial institution or a bank subject to fulfillment of the following conditions, namely:-
    • the loan is brought in accordance with conditions imposed by the lending institutions on the promoters to contribute such finance;
    • Loan is provided by the promoters themselves or by their relatives or by both; and
    • the exemption under this sub-clause shall be available only till the loans of financial institution or bank are repaid

15. Any amount accepted by a Nidhi company in accordance with the rules made under section 406 of the Act.

3. General Prohibition on Acceptance of Deposits

• Section 73(1) of Companies act, 2013 prohibits company from acceptance of any kind of deposits from the Public.
• However, provision of Section 73 are not applicable to:
  • banking company;
  • Non-banking financial company; or
  • Such other company as the Central Government may specify on this behalf.

4. Conditions for acceptance of deposits from Members

Provisions related to acceptance of deposits from members are given in Section 73(2) of Companies Act. A company may accept deposits from its members on such terms & conditions as may be agreed between the company & the member. However, such deposit can be accepted subject to fulfilment of following conditions:

a. Pass a resolution in General Meeting of the company

b. Issue Circular to the member (Sec. 73(2)(a))

• The company shall issue a circular to the member inviting deposits from them. 
• The circular shall includes a statement containing -

1. Financial position of the company;
2. Credit rating obtained by the company;
3. Total number of depositors and amount due towards previous deposits accepted by the companies;

• La circular debe emitirse en el Formulario DPT-1 mediante correo certificado con acuse de recibo, correo urgente o por medios electrónicos.
• Se deberá cargar una copia de dicha circular en el sitio web de la empresa;

c. Presentación de la circular ante el Registro Mercantil (RoC)

• La empresa deberá presentar la circular, junto con la declaración, ante el registrador al menos 30 días antes de su emisión a los miembros.

d. Transferencia de fondos a la cuenta de reserva para el reembolso de depósitos

• La empresa debe depositar un mínimo del 20% de los depósitos que venzan durante el ejercicio financiero en una cuenta bancaria separada, mantenida en un banco programado a nombre de "Cuenta de Reserva para el Reembolso de Depósitos".
• Dicho importe deberá depositarse antes o el día 30 de abril de cada año.
• Los fondos depositados en dicha cuenta se utilizarán exclusivamente para el reembolso de depósitos.

e. Certificado de ausencia de incumplimiento en el reembolso de depósitos

• La empresa deberá certificar que no ha incurrido en incumplimiento en el reembolso de ningún depósito ni de los intereses devengados por los mismos.
• No obstante, cuando una empresa haya incurrido en un incumplimiento en el reembolso de depósitos o intereses, deberá haber subsanado dicho incumplimiento y haber transcurrido un periodo de 5 años desde la fecha de la subsanación.

f. Garantía respecto a los depósitos o creación de gravámenes

• La empresa puede ofrecer garantías para el reembolso de los depósitos y los intereses pagaderos por los mismos, y crear un gravamen sobre sus activos a tal efecto.
• Sin embargo, si la empresa no garantiza los depósitos o los garantiza parcialmente, dichos depósitos deberán denominarse "depósitos no garantizados" en toda circular o documento.

5. Aplicabilidad de las disposiciones relacionadas con los depósitos a sociedades públicas o privadas

• Por lo general, las disposiciones de la Sección 73 son aplicables tanto a las sociedades públicas como a las privadas.
• Sin embargo, según la exención otorgada bajo el GSR 464(E) del 05.06.2015, modificado por el GER 583(E) del 13 de junio de 2017, las condiciones establecidas en la Sección 73(2)(a) a (e) no se aplicarán a las sociedades privadas.
• Además, las disposiciones de la Sección 73(2)(a) a (e) no se aplicarán a las sociedades públicas de IFSC especificadas que cumplan con los siguientes criterios:
  • Que acepten depósitos de sus miembros por importes que no excedan el 100% del capital social desembolsado y las reservas libres; y
  • Dichas empresas deberán presentar los detalles de los importes aceptados ante el Registrador de la manera que se especifique; o

• No obstante, las sociedades privadas exentas también deben presentar los detalles del dinero aceptado ante el RoC en el formulario DPT-03.

6. Aceptación de depósitos a corto plazo de los miembros

• Según la Regla 3 de las Reglas de las Sociedades (Aceptación de Depósitos) de 2014, ninguna empresa aceptará ni renovará ningún depósito de sus miembros que sea:
  • pagadero a la vista; o
  • pagadero tras recibir un aviso en un plazo inferior a 6 meses o superior a 36 meses desde la fecha de aceptación o renovación de dicho depósito.

• Sin embargo, la empresa puede aceptar depósitos a corto plazo, reembolsables en un plazo de 6 meses desde la fecha de aceptación, para necesidades de fondos a corto plazo, siempre que:
  • Dicho depósito no exceda el 10% de la suma del capital social desembolsado, las reservas libres y la cuenta de prima de emisión de la empresa, y
  • Dichos depósitos no sean reembolsables antes de los 3 meses desde la fecha de depósito o su renovación.

7. Límite máximo de depósitos de los miembros

• Ninguna empresa aceptará ni renovará depósitos de sus miembros si el importe de dichos depósitos, junto con los depósitos pendientes en la fecha de aceptación o renovación, supera el 35% de la suma del capital social desembolsado, las reservas libres y la cuenta de prima de emisión de la empresa.

8. Tipo de interés de los depósitos

• Según la Regla 3 de las Reglas de las Sociedades (Aceptación de Depósitos) de 2014, ninguna empresa invitará, aceptará ni renovará ningún depósito que devengue un tipo de interés o pague una comisión que supere el tipo máximo de interés o comisión prescrito por el Banco de la Reserva de la India para la aceptación de depósitos por parte de entidades financieras no bancarias.