Rules and Regulations of India

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6. Furnishing of receipts to depositors

30[(1) Every company shall, on the acceptance or renewal of a deposit, furnish to the depositor or his agent a receipt for the amount received by the company within a period of eight weeks from the date of receipt of money or realization of cheques.]


(2) The deposit receipt referred to in sub-rule ( 1 ) shall be signed by an officer of the company duly authorized by the company in this behalf, and shall state the date of deposit, the name and address of the depositor, the amount received by the company as deposit, the rate of interest payable thereon and the date on which the deposit is repayable.


31[(3) The company shall not reserve to itself either directly or indirectly a right to alter, to the prejudice or disadvantage of the depositor, the terms and conditions of the deposit after it is accepted.]

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