alleryStart learning →Section 74(3): the company's fine ranges between which amounts?
ARs 25 lakh to Rs 2 crore
BRs 1 crore to Rs 10 crore
CRs 5 crore to Rs 50 crore
DRs 10 lakh to Rs 1 crore
Answer & Solution
Correct answer: B. Rs 1 crore to Rs 10 crore
Failure to repay old deposits on time attracts a company fine of at least one crore rupees, extendable to ten crore rupees, besides the dues.
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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?