On 29th August 2022, the Ministry of Corporate Affairs (MCA) issued the notification regarding the “Companies (Acceptance of Deposits) Amendment Rules 2022” through the exercise of powers conferred under Section 2(31, Section 73, and Section 76 to be read with Section 469 (1) and (2) of the Companies Act, 2013 (18 of2013).
The purpose of the MCA for the implementation of this particular amendment was to amend to rules of acceptance of deposits to bring transparency and enhance the role and responsibilities of statutory auditors.