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      Question

      As laid down under the Companies Act, 2013

      _______________ shall not be used by the company for any purpose other than repayment of deposits
      A Deposit reserve fund Correct Answer Incorrect Answer
      B Deposit reserve account Correct Answer Incorrect Answer
      C Deposit repayment reserve account Correct Answer Incorrect Answer
      D Deposit redemption reserve account Correct Answer Incorrect Answer
      E Deposit acceptance reserve account Correct Answer Incorrect Answer

      Solution

      Section 73. Prohibition on acceptance of deposits from public: (5) The deposit repayment reserve account shall not be used by the company for any purpose other than repayment of deposits.

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