# Meeting of Depositors

## Who Calls

The trustee for depositors shall call a meeting of all depositors.

## Two Triggers for Calling a Meeting

### Trigger 1 — Requisition by Depositors

On a requisition in writing signed by at least one-tenth (1/10th) of the depositors in value for the time being outstanding.

> Note: Threshold is by VALUE, not number of depositors.

### Trigger 2 — Default / Interest Affected

On the happening of any event which:

constitutes a default, OR
in the opinion of the trustee, affects the interest of the depositors.

## Purpose

Protective mechanism for depositors to be informed and to act collectively when their interest is threatened.

Worked example

### Example 1

Example: XYZ Ltd. has outstanding deposits of Rs. 100 crore from 5,000 depositors. Depositors holding Rs. 12 crore (12% by value, but only 600 in number) submit a written requisition. Result: The trustee MUST call a meeting because the 1/10th threshold by VALUE is satisfied (12 cr > 10 cr), even though the number of depositors is a small fraction.

⚠️ Common exam mistakes

Computing the 1/10th threshold by number of depositors instead of by value of deposits outstanding.
Believing the depositors themselves call the meeting — it is the trustee who calls it.
Forgetting that the trustee can suo motu call a meeting in the case of default or risk.

Bare-Act text Companies (Acceptance of Deposits) Rules, 2014 · Companies Act, 2013 · click to expand

The trustee for depositors shall call a meeting of all the depositors on: (a) requisition in writing signed by at least one-tenth of the depositors in value for the time being outstanding; (b) the happening of any event, which constitutes a default or which, in the opinion of the trustee for depositors, affects the interest of the depositors.

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