16 Questions
What is the main objective of controlling companies which invite deposits?
To protect the interests of individuals offering deposits
Which section of the Companies Act deals with the prohibition on acceptance of deposits?
Section 73
What is the punishment for contravention of the provisions relating to acceptance of deposits by companies?
Section 76A
What concept does Chapter V of the Companies Act mainly address?
Acceptance of deposits
What does 'eligible companies' refer to in the context of accepting deposits from the public?
Companies permitted to accept deposits from the public
Which chapter of the Companies Act consists of sections 73 to 76A?
Chapter V
According to section 2 (31) of the Companies Act, 2013, the term 'deposit' includes which of the following?
Any receipt of money by way of deposit, loan, or in any other form
Which of the following is NOT a feature of the definition of 'deposit' as per section 2 (31) of the Companies Act, 2013?
Premature repayment of a deposit cannot be made by the company
What types of deposits are explained in the given text?
Secured deposits and unsecured deposits
Which of the following is NOT considered as a deposit according to Rule 2 (1) (c)?
Any amount received from private companies
As per the Companies Act, 2013, who can accept deposits from its members only?
Private company
What is the maximum number of persons in joint names that can accept a deposit according to the Companies Act, 2013?
Three persons
Which of the following entities can guarantee repayment and hence are not considered as deposit according to Rule 2 (1) (c)?
(i) Central Government and state Government
Which of the following is true about repayment of every deposit accepted by the company?
It will always be repaid with interest
'Premature repayment' of a deposit can be made by which type of company?
(xi) A public company
'Unsecured deposits' are explained as having what kind of security available?
'Unsecured deposits' have partial or no security made available
This quiz covers the statutory provisions in sections 73 to 76A of the Companies Act, 2013, and the Companies (Acceptance of Deposits) Rules, 2014. It also explains important terms related to deposits as per section 2 (31) of the Act.
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