alleryStart learning →Which certificate is a section 73(2) condition?
AZero bank borrowings
BNo pending Tribunal cases
CNo default on deposits
DProfits for ten years
Answer & Solution
Correct answer: C. No default on deposits
The company must certify it has not defaulted on repayment of earlier deposits or on interest, whether accepted before or after the Act.
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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?