3A. Maintenance of liquid assets
(1) Every company shall, before the 30th day of April of each year, deposit or invest, as the case may be, a sum which shall not be less than 23[fifteen per cent] of the amount of its deposits maturing during the year ending on the 31st day of March next following in any one or more of the following methods, namely:
(a) in a current or other deposit account with any scheduled bank, free charge of lien;
(b) in unencumbered securities of the Central Government or of any State Government;
(c) in unencumbered securities mentioned in clauses (a) to (d) and (ee) of section 20 of the Indian Trusts Act, 1882 (2 of 1882);
24[(d) in unencumbered bonds issued by the Housing Development Finance Corporation Limited, Bombay, a company incorporated under the Companies Act, 1956 (1 of 1956), and notified under clause (f) of section 20 of the Indian Trusts Act, 1882 (2 of 1882)]:
25[Provided that with relation to the deposits maturing during the year ending on the 31st day of March, 1979, the sum required to be deposited or invested under this sub-rule shall be deposited or invested before the 26[30th day of September, 1978].]
Explanation.- For the purpose of this sub-rule, the securities referred to in clause (b) or clause (c) shall be reckoned at their market value.
(2) The amount deposited or invested, as the case may be, under sub-rule (1), shall not be utilized for any purpose other than for the repayment of deposits maturing during the year referred to in that sub-rule, provided that the amount remaining deposited or invested, as the case may be, shall not at any time fall below 23[fifteen per cent] of the amount of deposits maturing until the 31st day of March of that year.]