Maharashtra State BoardHSC Commerce 12th Board Exam
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Study the following case/situation and express your opinion.Apple Company Ltd. plans to raise funds through Public Deposits. Its net worth is 10 Crores. Can they accept deposits from the public? - Secretarial Practice

Short Note

Study the following case/situation and express your opinion.
Apple Company Ltd. plans to raise funds through Public Deposits. Its net worth is 10 Crores.
Can they accept deposits from the public?

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Solution

No, they cannot accept deposits from the public. As per the rule, any public company having a net worth of Rs 100 crore or more can accept deposits from the public. In fact, this company can accept deposits from its members or directors.

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APPEARS IN

Balbharati Secretarial Practice 12th Standard HSC Maharashtra State Board
Chapter 5 Deposits
Exercise Q.3 | Q 1.1 | Page 92
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