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Start learning 50% faster. Sign in nowSection 73.Prohibition on acceptance of deposits from public: (2) A company may, subject to the passing of a resolution in general meeting and subject to such rules as may be prescribed in consultation with the Reserve Bank of India, accept deposits from its members on such terms and conditions, including the provision of security, if any, or for the repayment of such deposits with interest, as may be agreed upon between the company and its members, subject to the fulfilment of the following conditions, namely :— (a) issuance of a circular to its members including therein a statement showing the financial position of the company, the credit rating obtained, the total number of depositors and the amount due towards deposits in respect of any previous deposits accepted by the company and such other particulars in such form and in such manner as may be prescribed; (b) filing a copy of the circular along with such statement with the Registrar within thirty days before the date of issue of the circular; (c) depositing, on or before the thirtieth day of April each year, such sum which shall not be less than twenty per cent. of the amount of its deposits maturing during the following financial year and kept in a scheduled bank in a separate bank account to be called deposit repayment reserve account; (e) certifying that the company has not committed any default in the repayment of deposits accepted either before or after the commencement of this Act or payment of interest such deposits and where a default had occurred, the company made good the default and a period of five years had lapsed since the date of making good the default; and (f) providing security, if any for the due repayment of the amount of deposit or the interest thereon including the creation of such charge on the property or assets of the company: Provided that in case where a company does not secure the deposits or secures such deposits partially, then, the deposits shall be termed as “unsecured deposits” and shall be so quoted in every circular, form, advertisement or in any document related to invitation or acceptance of deposits.
Statement :
All hotels are rooms.
All rooms are flats.
All flats are buildings.
No building is apartments.
Conclusi...
Statements:
Only Book is Pen.
No Book is Pencil.
Some Pencil are Eraser.
Conclusion:
I. Some Eraser can be Pe...
Statements:
Some couliflower are cabbage.
Some cabbage are asparagus.
Some asparagus are pumpkin.
Conclusions:
I...
Two statements are given followed by three conclusions numbered I, II and III. Assuming the statements to be true, even if they seem to be at variance ...
Statements:
Some Cricket is Polo.
Only a few Polo is Golf.
All Golf is Football.
Conclusions:
All Cricket b...
Statements:
All Flowers are Roses
No Root is Stem
All Root are Roses
Conclusions:
I. All Stem are Flower
II. No Stem is Flower
Statements: Some sweaters are coats.
All coats are shawls.
Conclusions: I. Some sweaters are shawls.
...
Statements: No swan is a penguin.
Some penguins are kingfisher.
Conclusions: I. Some s...
Statements:
All jacket are coat.
All coat are blazzers.
All blazzers are shir...
Statement:
Some pipes are tanks.
All tanks are lids.
All lids are covers.
Conclusion:
I. Some covers are lids.