alleryStart learning →Which Companies Act, 2013 section prohibits public deposits except as allowed?
ASection 75
BSection 73
CSection 71
DSection 77
Answer & Solution
Correct answer: B. Section 73
Section 73(1) bars any company from inviting, accepting or renewing deposits from the public except in the manner Chapter V provides.
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Related questions
Where must a company inviting public deposits upload the circular?A deposit circular stays valid for how long after the financial year closes (at most)?Who signs the circular copy sent to the Registrar under Rule 4(5)?On whose authority and name must a deposit circular be issued?An eligible company's public deposit circular is issued in which form?A section 73(2) company can send its member circular by which mode?After issuing the circular, what may a company not reserve a right to do?Who alone is entitled to brokerage on deposits procured for a company?