 "Private equity and venture capital investments in H12019 were 27% higher at $23.4 billion compared to the same period last year, EY says")
The corporate affairs ministry has amended the deposits rules, bringing them in line with the current start-up definition of department of promotion of industry and internal trade, to extend the exemptions up till 10 years from the date of incorporation of a company.
With the new amendment, an amount of Rs 25 lakh or more received by a start-up through convertible note in a single tranche, which is convertible into equity shares or repayable within a period not exceeding 10 years from the date of issue, shall not be considered as deposits. Earlier, the time period was five years.
