All companies cannot accept deposits from public.

Answer: The statement is justified.

Deposits are unsecured loans, so the law restricts which companies can accept them, to protect depositors:

• Under Section 76 of the Companies Act, 2013, only an eligible public company can accept deposits from the public, i.e. a public company having a net worth of not less than ₹ 100 crore or a turnover of not less than ₹ 500 crore, which has obtained the prior consent of members by a special resolution and filed it with the Registrar.
• Other companies can accept deposits only from their members under Section 73, after passing a resolution in general meeting and complying with conditions such as issuing a circular, obtaining a credit rating (where required) and keeping a deposit repayment reserve.
• Banking companies and Non-Banking Financial Companies are regulated by the RBI and are not covered by these provisions; a company in default of repaying earlier deposits or interest cannot accept fresh deposits.

Hence all companies cannot accept deposits from the public.