Question 12 of 28
Q.
Study the following case/situation and express your opinion.
| ABC Company Ltd. is an eligible Public Company as per the Companies Act, 2013 with reference to accepting Public Deposits. |
|---|
| Can the company accept deposits in joint names? |
| Can the company accept deposits from its members? |
| Can the company issue secure deposits? |
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2022Subjective· 3mImportance★★★★★
43% · 12/28 Questions
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Start your 14-day free trial to unlock the full solution →ABC Company Ltd., being an eligible public company, can accept deposits in joint names, can accept deposits from its members, and can issue secured deposits.
Under the Companies Act, 2013, an eligible public company may accept public deposits subject to prescribed conditions. Taking each query:
- Can it accept deposits in joint names? Yes. Deposits may be accepted in the joint names of depositors, generally up to three persons.
- Can it accept deposits from its members? Yes. An eligible company may accept deposits both from the public (under Section 76) and from its members (under Section 73), subject to the applicable limits. …
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