alleryStart learning →A company accepting secured public deposits must create a charge within how long?
AFifteen days
BThirty days
CNinety days
DSixty days
Answer & Solution
Correct answer: B. Thirty days
The second proviso to section 76(1) requires a charge on assets, at least equal to the deposits, within thirty days of acceptance.
Keep practising Acceptance of Deposits by Companies
Browse all Acceptance of Deposits by Companies questions for CA Inter, or explore more Law topics.
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?