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Which section of the Companies Act 2013 allows banking companies to accept deposits in the ordinary course of their business without being considered as borrowing of monies?
  • a)
    Section 180(1)
  • b)
    Section 73(1)
  • c)
    Section 186(11)
  • d)
    Section 179(3)
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which section of the Companies Act 2013 allows banking companies to ac...
Banking companies are permitted to accept deposits in the ordinary course of their business under the proviso to Section 73(1) of the Companies Act 2013. This means that such acceptance of deposits does not fall under the definition of borrowing of monies for banking companies.
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Which section of the Companies Act 2013 allows banking companies to accept deposits in the ordinary course of their business without being considered as borrowing of monies?a)Section 180(1)b)Section 73(1)c)Section 186(11)d)Section 179(3)Correct answer is option 'B'. Can you explain this answer?
Question Description
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