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Justify the following statement. Company has to fulfill certain provisions related to issue of circular or advertisement. - Secretarial Practice

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Question

Justify the following statement.

Company has to fulfill certain provisions related to issue of circular or advertisement.

Justify
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Solution

  1. If a company invites deposits from its members, it issues a circular. But if it invites deposits from the public, the company has to issue an advertisement.
  2. The company has to file a copy of the circular or advertisement with the Registrar of Companies.
  3. The company can issue a circular or advertisement only after 30 days of filing a copy of the circular or advertisement with the Registrar of Company (ROC).
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Terms and Conditions for Acceptance of Deposits
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Chapter 5: Deposits - Exercises [Page 92]

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