📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!


    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

    Companies Act  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.

    Practice Next
    ask-question

    Not sure which exam is best for you Talk to our expert

    Get My Free Call