Question 13 of 28
Q.Government company can collect deposits from its members.
(a) True
(b) False
Maharashtra MsbshseMaharashtra HSC (MSBSHSE) Board 2023MCQ· 1mImportance★★★★★
46% · 13/28 Questions
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Start your 14-day free trial to unlock the full solution →The statement is True. A government company, being a company under the Companies Act, 2013, is allowed to accept deposits from its members, and it enjoys certain relaxations from the conditions imposed on other companies.
Under Section 73 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules, 2014, companies may accept deposits from their members after fulfilling prescribed conditions. Government companies are specifically given exemption from several of these conditions when they accept deposits, which show …
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