Ministry of Corporate Affairs change deposit rules for Startups
Shortpedia
Content Team
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The ministry of corporate affairs (MCA) has amended rules related to the acceptance of deposits by companies. The move will offer more flexibility for startups to raise funds, especially during the pandemic which has severely impacted businesses and the economy. The amendment allows Startups can raise funds through corporate bonds or other convertible instruments for 10 years, as against 5 years.
