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Explain the following term/concept.Eligible Public Company - Secretarial Practice

Short Note

Explain the following term/concept.
Eligible Public Company

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Solution

(1) Eligible public company can accept deposits from members and the public.
(2) Eligible company under section 76(1) of Companies Act, 2013 means:
A company having net worth* of not less than Rs one hundred crores or
Turnover* of not less than Rs five hundred crores.

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