A B and Company Ltd. is an eligible Public Company as per the Companies Act, 2013 with reference to accepting public deposits :(a) Can the company accept deposits in joint names?(b) Can the company accept deposits from its members?(c) Can the company…

Answer: (a) Yes. (b) Yes. (c) Yes.

(a) Yes. Under the Companies (Acceptance of Deposits) Rules, 2014, a deposit may be accepted in joint names, with not more than three names, with or without any of the clauses ‘jointly’, ‘either or survivor’, ‘first named or survivor/s’, etc.

(b) Yes. An eligible public company (net worth of at least ₹100 crores or turnover of at least ₹500 crores) can accept deposits from its members up to 10% of its paid-up share capital, free reserves and securities premium, and from the public up to 25% of the same, under Section 76.

(c) Yes. The company can accept secured deposits by creating a charge on its assets (other than intangible assets) of a value not less than the deposits and interest, and by appointing a deposit trustee through a trust deed.