# Kinds of Deposits under the Companies Act, 2013
The Companies Act, 2013 regulates two distinct streams through which a company may take deposits. Knowing who can accept what is the first foundation.
## 1. Deposits from Members — Section 73
- Who can accept? Both private companies and public companies.
- Procedural trigger: Pass a resolution in a general meeting and comply with the prescribed Rules (framed in consultation with RBI).
- Source of funds: Only the company's own members; no public solicitation.
## 2. Deposits from the Public — Section 76
Only an Eligible Company may accept deposits from the public.
### Who is an 'Eligible Company'? [Rule 2(1)(e)]
A public company that satisfies either:
- Net worth ≥ ₹100 crore, OR
- Turnover ≥ ₹500 crore.
### Resolution required
- General rule: Special Resolution in general meeting.
- Exception – Ordinary Resolution sufficient when:
> (Proposed deposits from public + existing borrowings) ≤ (Paid-up Share Capital + Free Reserves + Securities Premium)
### Mandatory Credit Rating
- Must be obtained from a recognised credit rating agency.
- Must cover the company's net-worth, liquidity and ability to pay deposits on the due date.
- Rating must be obtained every year.
### Charge on Assets
Where a company accepts secured deposits from the public, it must create a charge on its assets within 30 days of acceptance.
## Quick Comparison Table
| Parameter | Members (S.73) | Public (S.76) |
|---|---|---|
| Eligible company type | Pvt + Public | Only Eligible Public Co. |
| Resolution | Resolution in GM | Special Resolution (Ordinary if within limits) |
| Credit rating | Not mandatory | Mandatory annually |
| Charge for secured deposits | As per scheme | Within 30 days |